California Revenue and Taxation Code

§ 2188.8

RTC § 2188.8 Effective Jan 1, 2005Div. 1 · Part 4 · Ch. 2

Statute text

(a)Whenever the assessor receives a written request for separate assessment of time-share estates in a time-share project, as defined in Section 11212 of the Business and Professions Code and as specified in subdivision (h) of this section, the assessor shall, on the first lien date that occurs more than 60 days following the request, and on each lien date thereafter, separately assess each time-share estate in the project if the assessor determines that the conditions specified in subdivision (c) have been met. Whenever estates in a time-share project are separately assessed, they shall continue to be separately assessed in subsequent fiscal years and, once a request for separate assessment is made with respect to a project, it is binding on all future time-share estate owners.

(b)The interest that is to be separately assessed is the value of the right of recurrent, exclusive use or occupancy of real property, annually or on some other periodic basis, for a specific period of time that has been, or will be, allotted from the use or occupancy periods into which the project has been divided.

(c)The separate assessment of a time-share estate may not be made by the assessor unless both of the following occur:

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Legislative history

Amended by Stats. 2004, Ch. 697, Sec. 20. Effective January 1, 2005.