California Revenue and Taxation Code

§ 155.20

RTC § 155.20 Effective Sep 22, 2024Div. 1 · Part 1 · Ch. 2

Statute text

(a)Subject to the limitations listed in subdivisions (b), (c), (d), and (e), a county board of supervisors may exempt from property tax all real property with a base year value (as determined pursuant to Chapter 1 (commencing with Section 50) of Part 0.5) as adjusted by an annual inflation factor pursuant to subdivision (f) of Section 110.1, and personal property with a full value so low that, if not exempt, the total taxes, special assessments, and applicable subventions on the property would amount to less than the cost of assessing and collecting them.

(b)(1) (A) The board of supervisors shall have no authority to exempt property with a total base year value, as adjusted by an annual inflation factor pursuant to subdivision (f) of Section 110.1, or full value of more than ten thousand dollars ($10,000), except as otherwise provided in subparagraph (B).

(B)The limitation specified in subparagraph (A) on the amount of the exemption authorized by this section shall be increased as follows:

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Legislative history

Amended by Stats. 2024, Ch. 498, Sec. 1. (SB 1527) Effective September 22, 2024.