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 275.5

275.5. Documented vessel; partial cancellation of tax. If a person claiming classification of a vessel as a documented vessel eligible for assessment under Section 227 fails to file the affidavit required by Section 254 by 5 p.m. on February 15 of the calendar year in which the fiscal year begins, but files that affidavit on or before the following August 1, the assessment shall be reduced in a sum equal to 80 percent of the reduction that would have been allowed had the affidavit been timely filed.

History.—Added by Stats. 1980, Ch. 411, in effect July 11, 1980, operative January 1, 1981. Stats. 1997, Ch. 941 (SB 542), in effect January 1, 1998, substituted "by" for "pursuant to" after "required", substituted "5 p.m." for "5:00 p.m." afer "Section 254 by", substituted "February" for "April" after "5 p.m. on", and substituted "that" for "such" after "but files" in the first sentence. Stats. 1998, Ch. 695 (SB 2235), in effect January 1, 1999, substituted "February 15" for "February 1" after "5 p.m. on" in the first sentence.

* 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.