California Revenue and Taxation Code

§ 75.12

RTC § 75.12 Effective Jan 1, 2014Div. 1 · Part 0.5 · Ch. 3.5 · Art. 2

Statute text

(a)For the purposes of this chapter, new construction shall be deemed completed on the earliest of the following dates:

(1)(A) The date upon which the new construction is available for use by the owner, unless the owner does not intend to occupy or use the property. The owner shall notify the assessor prior to, or within 30 days of, the date of commencement of construction that he or she does not intend to occupy or use the property. If the owner does not notify the assessor as provided in this subdivision, the date shall be conclusively presumed to be the date of completion.

(B)Notwithstanding subparagraph (A), an owner is not required to provide the notice described in subparagraph (A) and it is rebuttably presumed that a supplemental assessment is not required on property described in clauses (i) to (iii), inclusive, if the owner’s property meets all of the following conditions:

…

Legislative history

Amended by Stats. 2013, Ch. 607, Sec. 3. (SB 825) Effective January 1, 2014.