Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Property Taxation

Part 0.5. Implementation of Article XIII A of the California Constitution

Chapter 3.5. Change in Ownership and New Construction After the Lien Date

Article 2.5. Application of Inflation Rate*

Section 75.18

75.18. Application of inflation rate. On and after July 1, 1997, if the actual date of the most recent change in ownership or completion of new construction entered on the supplemental roll occurs between January 1 and June 30, then the new base year value shall be adjusted on the January 1 following the change in ownership or completion of new construction by the inflation factor, which shall be determined as provided in subdivision (a) of Section 51.

History.—Stats. 1984, Ch. 1164, in effect January 1, 1985, substituted "determined as provided in subdivision (a) of Section 5" for "the percentage change in the cost of living, as defined in Section 2212, provided that any increases shall not exceed 2 percent of the new base year value" after "be". Stats. 1995, Ch. 499, in effect January 1, 1996, operative January 1, 1997, substituted "1997" for "1983" after "July 1" and substituted "January" for "March" twice.

Construction.—The provisions of this section do not constitute an ad valorem tax increase in violation of Article XIII A of the Constitution. Shafer v. State Board of Equalization, 174 Cal.App.3d 423.

* Article 2.5 was added by Stats. 1983, Ch. 1102, in effect September 27, 1983.