California Revenue and Taxation Code

§ 5085

RTC § 5085Div. 1 · Part 9 · Ch. 4 · Art. 5

Statute text

If exempt property is acquired by negotiated purchase, gift, devise, or eminent domain after the lien date but prior to the commencement of the fiscal year for which taxes are a lien on the property, the amount of the taxes for that fiscal year shall be canceled and are not collectible from either the person from whom the property was acquired or the public entity that acquired the property.

Legislative history

Added by Stats. 1979, Ch. 31.