Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Revenue and Taxation Code
Part 0.5. Implementation of Article XIII A of the California Constitution
Chapter 1. Base Year Values
53.5. Base year value of leach pads, tailing facilities, and settling ponds. With respect to property that is subject to valuation as mining or mineral property, the initial base year value of a leach pad, tailing facility, or settling pond on that property shall be the full cash value of that leach pad, tailing facility, or settling pond as of the first lien date upon which that pad, facility, or pond is subject to assessment. Each leach pad, tailing facility, or settling pond shall be considered a separate appraisal unit for purposes of determining its taxable value on each lien date subsequent to the lien date upon which the initial base year value was determined for that pad, facility, or pond.
History.—Added by Stats. 1998, Ch. 226 (AB 1246), in effect January 1, 1999.
Note.—Section 1 of Stats. 1998, Ch. 226 (AB 1246) provided that the Legislature finds and declares both of the following: (a) The unique nature of certain mining processes used in extracting nonfuel minerals creates changes to the condition of real property that are difficult to categorize for property tax purposes as either fixtures or long-term capital improvements to real property. (b) Because of the difficulties described in subdivision (a), it is necessary for the Legislature to create a special category for leach pads, tailings facilities, and settling ponds as separate appraisal units in order to more accurately reflect their declining value as an integral part of the mining process.