Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Revenue and Taxation Code

Other Taxes

Part 6. Private Railroad Car Tax

Chapter 2. Assessments

Article 4. Estimated and Escaped Assessments

Section 11317

11317. Entry on current record. (a) An escape assessment shall be entered on the current private railroad car tax record, and if this is not the record for the year in which the property escaped assessment, the entry shall be followed with "escape assessment for year 20 ". The property shall be assessed at the same value and taxed at the same rate as it would have been assessed and taxed had it not escaped.

(b) If the assessments are made as a result of an audit that discloses that property assessed to the party audited has been incorrectly assessed for a past tax year for which taxes have been paid and a claim for refund is not barred by Section 11553, the tax refunds, including applicable interest under Section 11555, resulting from the incorrect assessments shall be an offset against proposed tax liabilities, including accumulated penalties and interest, resulting from escaped assessments for any tax year covered by the audit. If the refunds exceed any proposed tax liabilities, including penalties and interest, the excess shall be processed in accordance with Section 11551.

(c) Beginning with the 1981–82 fiscal year, assessments for the current year and escape assessments for prior years shall be entered using a 100-
percent assessment ratio and the tax rates for years prior to the 1981–82 fiscal year shall be divided by four.

History.—Added by Stats. 1974, Ch. 54, p. 119, in effect January 1, 1975. Stats. 1978, Ch. 1209, in effect January 1, 1979, added "railroad" after "private". Stats. 1982, Ch. 1465, in effect January 1, 1983, added the second and third paragraphs. Stats. 2006, Ch. 538 (SB 1852), in effect January 1, 2007, designated the former first paragraph as subdivision (a) and substituted "20 " for "19 " after "assessment for year" in the first sentence therein, designated the former second paragraph as subdivision (b) and substituted "that" for "which" after "of an audit" in the first sentence therein, and designated the third paragraph as subdivision (c).