Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Property Taxation

Part 9. Corrections, Cancellations, and Refunds

Chapter 4. Cancellations

Article 5. Cancellation of Taxes on Exempt Property*

Section 5086

5086. Acquisition after beginning of fiscal year. If exempt property is acquired by negotiated purchase, gift, devise, or eminent domain after commencement of the fiscal year for which the current taxes are a lien on the property:

(a) The portion of the current taxes and any penalties and costs that are allocable to the part of the fiscal year that ends on the day before the date of apportionment shall be paid through escrow at the close of escrow or from the award in eminent domain.

(b) The portion of the current taxes and any penalties and costs that are allocable to the part of the fiscal year that begins on the date of apportionment shall be canceled and are not collectible either from the person from whom the property was acquired or from the public entity that acquired the property.

(c) If the amount of taxes or special assessment liens is unknown, the portion of the current taxes attributable to the period of the fiscal year that ends on the day before the date of apportionment shall be ascertained by the auditor on a pro rata basis of the previous year's taxes, and shall be paid to the tax collector. The auditor shall adjust the assessment roll and the tax charge accordingly.

History.—Stats. 1988, Ch. 830, in effect January 1, 1989, deleted "or, if unpaid for any reason, shall be transferred to the unsecured roll pursuant to Section 5090 and are collectible from either the person from whom the property was acquired or the public entity that acquired the property" after "eminent domain" in subdivision (a) and added subdivision (c).

Note.—Section 31 of Stats. 1988, Ch. 830, provided that this act shall be applicable to the 1989–90 fiscal year and fiscal years thereafter.

* Article 5 was added by Stats. 1979, Ch. 31, in effect January 1, 1980.