Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Revenue and Taxation Code
Part 9. Corrections, Cancellations, and Refunds
Chapter 4. Cancellations
Article 5. Cancellation of Taxes on Exempt Property*
5085. Acquisition prior to beginning of fiscal year. If exempt property is acquired by negotiated purchase, gift, devise, or eminent domain after the lien date but prior to the commencement of the fiscal year for which taxes are a lien on the property, the amount of the taxes for that fiscal year shall be canceled and are not collectible from either the person from whom the property was acquired or the public entity that acquired the property.
* Article 5 was added by Stats. 1979, Ch. 31, in effect January 1, 1980.