Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Revenue and Taxation Code
Property Taxation
Part 2. Assessment
Chapter 4. Assessment by State Board of Equalization Generally
Article 1. General Provisions*
Section 722
722. Ratio of assessed to full value. State-assessed property shall be assessed at its fair market value or full value as of 12:01 a.m. on the first day of January. The board shall annually prepare an assessment roll of the assessments made by it for transmittal to county auditors and city auditors as hereinafter provided in this chapter.
History.—Stats. 1978, Ch. 1207, in effect January 1, 1979, operative January 1, 1981, deleted "25 percent of" before "its fair market value" in the first sentence. Stats. 1986, Ch. 1457, effective January 1, 1987, substituted "January" for "March" after "day of" in the first sentence.
* Article 1 was added by Stats. 1976, Ch. 877, p. 1990, in effect January 1, 1977.