California Revenue and Taxation Code

§ 2188.9

RTC § 2188.9 Effective Jan 1, 2005Div. 1 · Part 4 · Ch. 2

Statute text

(a)Whenever the assessor receives a written request for separate assessment of a time-share project, as defined in Section 11212 of the Business and Professions Code, the assessor shall, on the first lien date which occurs more than 60 days following the request, and on each lien date thereafter, separately assess the individual interests in the project described in subdivision (b) if the conditions specified in subdivision (c) have been met. Whenever a time-share project becomes subject to separate assessment, it shall continue to be so subject in subsequent fiscal years and once a request for separate assessment is made, it is binding on all future owners and occupants of the project.

(b)The interest in a time-share project 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 period of time that has been, or will be, allotted from the use or occupancy periods into which the project has been divided.

(c)A separate assessment may not be made by the assessor under this section unless:

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Legislative history

Amended by Stats. 2004, Ch. 697, Sec. 21. Effective January 1, 2005.