Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

CHAPTER 1. Taxation Base

Article 2.5. Late Exemption Claims*

Section 271.5

271.5. Sale of property receiving exemption. (a) In the event that property receiving the college, cemetery, church, religious, exhibition, veterans' organization, tribal housing, or welfare exemption is sold or otherwise transferred, the exemption shall cease to apply on the date of that sale or transfer. A new exemption shall be available subject to the provisions of Section 271.

(b) Termination of the exemption under this section shall result in an escape assessment of the property pursuant to Section 531.1.

History.—Added by Stats. 2011, Ch. 351 (SB 947), in effect January 1, 2012.

* Article 2.5 was added by Stats. 1971, Ch. 303, p. 615, in effect July 12, 1971, operative for property taxes for the 1970–71 fiscal year and fiscal years thereafter.