Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Revenue and Taxation Code

Property Taxation

Part 12. Taxation of Racehorses

CHAPTER 2. Imposition of Tax

Section 5721

5721. Imposition of tax. For the 1973 calendar year and each calendar year thereafter, on the privilege of breeding, training, caring for or racing a racehorse in this state, there is hereby imposed an annual tax on owners of racehorses for such racehorses domiciled in this state, which shall be in lieu of any property tax on racehorses subject to taxation pursuant to this part.

History.—Stats. 1972, p. 1228, in effect August 10, 1972, substituted "1973 calendar" for " 1972–73 tax", "calendar year" for "tax year" , "tax on owners of racehorses for such racehorses" for "fee on such horses to be paid by racehorse owners for such racehorses" in the first sentence.