401. Every assessor shall assess all property subject to general
property taxation at its full value.
401.3. The assessor shall assess all property subject to general
property taxation on the lien date as provided in Articles XIII and
XIII A of the Constitution and any legislative authorization
thereunder.
401.4. When valuing an owner-occupied single-family dwelling and
the land on which it is situated that may be required for the
convenient occupation and use of such dwelling, if such dwelling is
on land which is zoned exclusively for single-family home use or
which is zoned for agricultural use where single-family homes are
permitted, the assessor shall not value the land at any value greater
than that which would reflect the use of the land as a site for a
single-family dwelling.
As used in this section, owner-occupied single-family dwelling
means any single-family dwelling occupied by an owner thereof as his
principal place of residence on the lien date.
401.5. The board shall issue to assessors data relating to costs of
property, or, with respect to commercial and industrial property,
shall, after a public hearing, review and approve commercially
available data, and shall issue to assessors other information as in
the judgment of the board will promote uniformity in appraisal
practices and in assessed values throughout the state. An assessor
shall adapt data received pursuant to this section to local
conditions and may consider that data together with other factors as
required by law in the assessment of property for tax purposes.
401.6. (a) In any case in which the cost approach method is used to
value special use property for purposes of taxation, the assessor
shall not add a component for entrepreneurial profit unless he or she
has market-derived evidence that entrepreneurial profit exists and
has not been fully offset by physical deterioration or economic
obsolescence.
(b) For purposes of this section:
(1) "Entrepreneurial profit" means either of the following:
(A) The amount a developer would expect to recover with respect to
a property in excess of the amount of the developer's costs incurred
with respect to that property.
(B) The difference between the fair market value of a property and
the total costs incurred with respect to that property.
(2) "Total costs" means both direct costs of construction,
including, but not limited to, the costs of land, building materials,
and labor, and indirect costs of construction, including, but not
limited to, the costs of construction capital and permit fees.
(3) "Special use property" means a limited market property with a
unique physical design, special construction materials, or a layout
that restricts its utility to the use for which it was built.
401.8. (a) Notwithstanding any other provision of law, commencing
with the 1995-96 fiscal year, the county assessor shall determine the
property tax assessed value in the county attributable to assessable
intercounty pipeline rights-of-way on the basis of a single,
countywide parcel per taxpayer by combining the assessed values of
each separate right-of-way interest, or segment thereof, of the
taxpayer in the county. However, the assessor shall maintain a
separate base year value as determined pursuant to Section 110.1 for
each separate right-of-way interest, or segment thereof.
(b) Any assessment appeal that is authorized to be filed in
Sections 401.10 to 401.12, inclusive, with respect to an intercounty
pipeline right-of-way interest, or segment thereof, for which the
assessor did not assign a value in the manner specified in
subdivision (a) of Section 401.10, shall be filed by the taxpayer
upon one or more specified intercounty pipeline right-of-way
interests, or segments thereof, as described in subdivision (a), and
in no event shall be filed with respect to a taxpayer's entire,
undivided intercounty pipeline right-of-way. The assessor shall
maintain for five calendar years those records for each assessment
year that identify each intercounty pipeline right-of-way interest,
or segment thereof, located within his or her county, and shall
provide the information in those records with respect to a given
intercounty pipeline right-of-way interest, or segment thereof, to
the taxpayer upon request.
401.10. (a) Notwithstanding any other provision of law relating to
the determination of the values upon which property taxes are based,
values for each tax year from the 1984-85 tax year to the 2015-16 tax
year, inclusive, for intercounty pipeline rights-of-way on publicly
or privately owned property, including those rights-of-way that are
the subject of a change in ownership, new construction, or any other
reappraisable event during the period from March 1, 1975, to June 30,
2016, inclusive, shall be rebuttably presumed to be at full cash
value for that year, if all of the following conditions are met:
(1) (A) The full cash value is determined to equal a 1975-76 base
year value, annually adjusted for inflation in accordance with
subdivision (b) of Section 2 of Article XIII A of the California
Constitution, and the 1975-76 base year value was determined in
accordance with the following schedule:
(i) Twenty thousand dollars ($20,000) per mile for a high density
property.
(ii) Twelve thousand dollars ($12,000) per mile for a transitional
density property.
(iii) Nine thousand dollars ($9,000) per mile for a low density
property.
(B) For purposes of this section, the density classifications
described in subparagraph (A) are defined as follows:
(i) "High density" means Category 1 (densely urban) as established
by the State Board of Equalization.
(ii) "Transitional density" means Category 2 (urban) as
established by the State Board of Equalization.
(iii) "Low density" means Category 3 (valley-agricultural),
Category 4 (grazing), and Category 5 (mountain and desert) as
established by the State Board of Equalization.
(2) The full cash value is determined utilizing the same property
density classifications that were assigned to the property by the
State Board of Equalization for the 1984-85 tax year or, if density
classifications were not so assigned to the property for the 1984-85
tax year, the density classifications that were first assigned to the
property by the board for a subsequent tax year.
(3) (A) If a taxpayer owns multiple pipelines in the same
right-of-way, an additional 50 percent of the value attributed to the
right-of-way for the presence of the first pipeline, as determined
under paragraphs (1) and (2), shall be added for the presence of each
additional pipeline up to a maximum of two additional pipelines. For
any particular taxpayer, the total valuation for a multiple pipeline
right-of-way shall not exceed 200 percent of the value determined
for the right-of-way of the first pipeline in the right-of-way in
accordance with paragraphs (1) and (2).
(B) If the State Board of Equalization has determined that an
intercounty pipeline, located within a multiple pipeline right-of-way
previously valued in accordance with subparagraph (A), has been
abandoned as a result of physical removal or blockage, the assessed
value of the right-of-way attributable to the last pipeline enrolled
in accordance with subparagraph (A) shall be reduced by not less than
75 percent of that increase in assessed value that resulted from the
application of subparagraph (A).
(4) If all pipelines of a taxpayer located within the same
pipeline right-of-way, previously valued in accordance with this
section, are determined by the State Board of Equalization to have
been abandoned as the result of physical removal or blockage, the
assessed value of that right-of-way to that taxpayer shall be
determined to be no more than 25 percent of the assessed value
otherwise determined for the right-of-way for a single pipeline of
that taxpayer pursuant to paragraphs (1) and (2).
(b) If the assessor assigns values for any tax year from the
1984-85 tax year to the 2015-16 tax year, inclusive, in accordance
with the methodology specified in subdivision (a), the taxpayer's
right to assert any challenge to the right to assess that property,
whether in an administrative or judicial proceeding, shall be deemed
to have been raised and resolved for that tax year and the values
determined in accordance with that methodology shall be rebuttably
presumed to be correct. If the assessor assigns values for any tax
year from the 1984-85 tax year to the 2015-16 tax year, inclusive, in
accordance with the methodology specified in subdivision (a), any
pending taxpayer lawsuit that challenges the right to assess the
property shall be dismissed by the taxpayer with prejudice as it
applies to intercounty pipeline rights-of-way.
(c) Notwithstanding any change in ownership, new construction, or
decline in value occurring after March 1, 1975, if the assessor
assigns values for rights-of-way for any tax year from the 1984-85
tax year to the 2015-16 tax year, inclusive, in accordance with the
methodology specified in subdivision (a), the taxpayer may not
challenge the right to assess that property and the values determined
in accordance with that methodology shall be rebuttably presumed to
be correct for that property for that tax year.
(d) Notwithstanding any change in ownership, new construction, or
decline in value occurring after March 1, 1975, if the assessor does
not assign values for rights-of-way for any tax year from the 1984-85
tax year to the 2015-16 tax year, inclusive, at the 1975-76 base
year values specified in subdivision (a), any assessed value that is
determined on the basis of valuation standards that differ, in whole
or in part, from those valuation standards set forth in subdivision
(a) shall not benefit from any presumption of correctness, and the
taxpayer may challenge the right to assess that property or the
values for that property for that tax year. As used herein, a
challenge to the right to assess shall include any assessment appeal,
claim for refund, or lawsuit asserting any right, remedy, or cause
of action relating to or arising from, but not limited to, the
following or similar contentions:
(1) That the value of the right-of-way is included in the value of
the underlying fee or railroad right-of-way.
(2) That assessment of the value of the right-of-way to the owner
of the pipeline would result in double assessment.
(3) That the value of the right-of-way may not be assessed to the
owner of the pipeline separately from the assessment of the value of
the underlying fee.
(e) Notwithstanding any other provision of law, during a four-year
period commencing on January 1, 1996, the assessor may issue an
escape assessment in accordance with the specific valuation standards
set forth in subdivision (a) for the following taxpayers and tax
years:
(1) Any intercounty pipeline right-of-way taxpayer who was a
plaintiff in Southern Pacific Pipe Lines, Inc. v. State Board of
Equalization (1993) 14 Cal. App. 4th 42, for the tax years 1984-85 to
1996-97, inclusive.
(2) Any intercounty pipeline right-of-way taxpayer who was not a
plaintiff in Southern Pacific Pipe Lines, Inc. v. State Board of
Equalization (1993) 14 Cal. App. 4th 42, for the tax years 1989-90 to
1996-97, inclusive.
(f) Any escape assessment levied under subdivision (e) shall not
be subject to penalties or interest under the provisions of Section
532. If payment of any taxes due under this section is made within 45
days of demand by the tax collector for payment, the county shall
not impose any late payment penalty or interest. Taxes not paid
within 45 days of demand by the tax collector shall become delinquent
at that time, and the delinquent penalty, redemption penalty, or
other collection provisions of this code shall thereafter apply.
(g) For purposes of this section, "intercounty pipeline
right-of-way" means, except as otherwise provided in this
subdivision, any interest in publicly or privately owned real
property through which or over which an intercounty pipeline is
placed. However, "intercounty pipeline right-of-way" does not include
any parcel or facility that the State Board of Equalization
originally separately assessed using a valuation method other than
the multiplication of pipeline length within a subject property by a
unit value determined in accordance with the density category of that
subject property.
(h) This section shall remain in effect only until January 1,
2016, and, as of that date is repealed, unless a later enacted
statute, that is enacted before January 1, 2016, deletes or extends
that date.
401.12. Sections 401.10 and 401.11 do not abrogate, rescind,
preclude, or otherwise affect any separate settlement agreement
entered into prior to the effective date of those sections between a
county and an intercounty pipeline right-of-way taxpayer concerning
the subject matter of Sections 401.10 and 401.11. In the event of a
conflict between any settlement agreement and the provisions of
Sections 401.10 and 401.11, the settlement agreement shall control.
401.13. Notwithstanding any other provision of law, on or after
January 1, 1998, the assessor shall determine the assessed value of
pipelines and related rights-of-way that are located wholly within
the county on the basis of a single, countywide parcel per taxpayer,
and, to that end, shall combine the assessed value of each component
or segment of those pipelines or rights-of-way. However, the assessor
shall maintain a separate base year value for each of these
components or segments.
401.15. (a) Notwithstanding any other provision of law, for any
county that makes available the credits provided for in Section
5096.3, the full cash values of certificated aircraft for fiscal
years to the 1997-98 fiscal year, inclusive, are presumed to be those
values enrolled by the county assessor or, in the case of timely
escape assessments upon certificated aircraft issued on or after
April 1, 1998, pursuant to Sections 531, 531.3, and 531.4, the values
enrolled upon those escape assessments, provided that the escape
assessment is made in accordance with the methodology in subdivision
(b). For escape assessments for fiscal years to the 1997-98 fiscal
year, inclusive, the assessor shall use the methodology and minimum
and market values set by the California Assessors' Association for
the applicable fiscal year in lieu of the methodology set forth in
subparagraph (C) or (D) of paragraph (1) of subdivision (b). The
assessor is not required to revise or change existing enrolled
assessments that are not subject to escape assessment to reflect the
methodology in this section. Nothing in this section precludes audit
adjustments and offsets as set forth in Section 469 or the correction
of reporting errors raised by an airline. Nothing in this section
affects any presumption of correctness concerning allocation of
aircraft values.
(b) (1) For the 1998-99 fiscal year to the 2002-03 fiscal year,
inclusive, and including escape assessments levied on or after April
1, 1998, for any fiscal year to the 2002-03 fiscal year, inclusive,
except as otherwise provided in subdivision (a), certificated
aircraft shall be presumed to be valued at full market value if all
of the following conditions are met:
(A) Except as provided in subparagraph (D), value is derived using
original cost. The original cost shall be the greater of the
following:
(i) Taxpayer's cost for that individual aircraft reported in
accordance with generally accepted accounting principles, so long as
that produces net acquisition cost, and to the extent not included in
the taxpayer's cost, transportation costs and capitalized interest
and the cost of any capital addition or modification made before a
transaction described in clause (ii).
(ii) The cost established in a sale/leaseback or assignment of
purchase rights transaction for that individual aircraft that
transfers the benefits and burdens of ownership to the lessor for
United States federal income tax purposes.
If the original cost for leased aircraft cannot be determined from
information reasonably available to the taxpayer, original cost may
be determined by reference to the "average new prices" column of the
Airliner Price Guide for that model, series, and year of manufacture
of aircraft. If information is not available in the "average new
prices" column for that model, series, and year, the original cost
may be determined using the best indicator of original cost plus all
conversion costs incurred for that aircraft. In the event of a
merger, bankruptcy, or change in accounting methods by the reporting
airline, there shall be a rebuttable presumption that the cost of the
individual aircraft and the acquisition date reported by the
acquired company, if available, or the cost reported prior to the
change in accounting method, are the original cost and the applicable
acquisition date.
(B) Original cost, plus the cost of any capital additions or
modifications not otherwise included in the original cost, shall be
adjusted from the date of the acquisition of the aircraft to the lien
date using the producer price index for aircraft and a 16-year
straight-line percent good table starting from the delivery date of
the aircraft to the current owner or, in the case of a sale/leaseback
or assignment of purchase rights transaction, as described in this
section, the current operator with a minimum combined factor of 25
percent, unless this adjustment results in a value less than the
minimum value for that aircraft computed pursuant to subparagraph
(C), in which case the minimum value may be used. If original cost is
determined by reference to the Airliner Price Guide "average new
prices" column, the adjustments required by this paragraph shall be
made by setting the acquisition date of the aircraft to be the date
of the aircraft's manufacture.
(C) For certificated aircraft of a model and series that has been
in revenue service for eight or more years, the minimum value shall
not exceed the average of the used aircraft prices shown in columns
other than the "average new prices" column for used aircraft of the
oldest aircraft for that model and series in the Airliner Price Guide
most recently published as of the lien date. Minimum values shall
not be utilized for certificated aircraft of a model and series that
has been in revenue service for less than eight years.
(D) For out-of-production aircraft that were recommended to be
valued by a market approach for 1998 by the California Assessors'
Association, assessments will be based at the lower of the following:
(i) The values established by the association for the 1998 lien
date.
(ii) The average of the used aircraft prices shown in the columns
other than the "average new prices" column for used aircraft of the
five oldest years for the aircraft model and series or that lesser
time for which data is available in the Airliner Price Guide.
(2) Notwithstanding paragraph (1), in computing assessed value,
the assessor may allow for extraordinary obsolescence if supported by
market evidence and the taxpayer may challenge the assessment for
failure to do so. To constitute market evidence of extraordinary
obsolescence and to permit an assessment appeal, the evidence must
show that the functional and/or economic obsolescence is in excess of
10 percent of the value for the aircraft model and series otherwise
established pursuant to subparagraph (B), (C), or (D) of paragraph
(1).
(3) For purposes of paragraph (1), if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by the airlines and the taxing counties shall
be substituted.
(c) (1) For the 2003-04 fiscal year, certificated aircraft shall
be presumed to be valued at full market value if all of the following
conditions are met:
(A) Except as provided in subparagraph (D), value is derived using
original cost. The original cost shall be the greater of the
following:
(i) Taxpayer's cost for that individual aircraft reported in
accordance with generally accepted accounting principles, so long as
that produces net acquisition cost, and to the extent not included in
the taxpayer's cost, transportation costs and capitalized interest
and the cost of any capital addition or modification made before a
transaction described in clause (ii).
(ii) Taxpayer's cost as established pursuant to this subdivision
plus one-half of the incremental difference between taxpayer's cost
and the cost established in a sale/leaseback or assignment of
purchase rights transaction for individual aircraft that transfers
the benefits and burdens of ownership to the lessor for United States
federal income tax purposes.
If the original cost for leased aircraft cannot be determined from
information reasonably available to the taxpayer, original cost may
be determined by reference to the "average new prices" column of the
Airliner Price Guide for that model, series, and year of manufacture
of aircraft. If information is not available in the "average new
prices" column for that model, series, and year, the original cost
may be determined using the best indicator of original cost plus all
conversion costs incurred for that aircraft. In the event of a
merger, bankruptcy, or change in accounting methods by the reporting
airline, there shall be a rebuttable presumption that the cost of the
individual aircraft and the acquisition date reported by the
acquired company, if available, or the cost reported prior to the
change in accounting method, are the original cost and the applicable
acquisition date.
(B) Original cost, plus the cost of any capital additions or
modifications not otherwise included in original cost, shall be
adjusted from the date of the acquisition of the aircraft to the lien
date using the producer price index for aircraft and a 16-year
straight-line percent good table starting from the delivery date of
the aircraft to the current owner or, in the case of a sale/leaseback
or assignment of purchase rights transaction, as described in this
section, the current operator with a minimum combined factor of 25
percent, unless this adjustment results in a value less than the
minimum value for that aircraft computed pursuant to subparagraph
(C), in which case the minimum value may be used. If original cost is
determined by reference to the Airliner Price Guide "average new
prices" column, the adjustments required by this paragraph shall be
made by setting the acquisition date of the aircraft to be the date
of the aircraft's manufacture.
(C) For certificated aircraft of a model and series that has been
in revenue service for eight or more years, the minimum value shall
not exceed the average of the used aircraft prices shown in columns
other than the "average new prices" column for used aircraft of the
oldest aircraft for that model and series in the Airliner Price Guide
most recently published as of the lien date. Minimum values shall
not be utilized for certificated aircraft of a model and series that
has been in revenue service for less than eight years.
(D) For out-of-production aircraft that were recommended to be
valued by a market approach for 1998 by the California Assessors'
Association, their assessments shall be based at the lower of the
following:
(i) The values established by the association for the 1998 lien
date.
(ii) The average of the used aircraft prices shown in the columns
other than the "average new prices" column for used aircraft of the
five oldest years for the aircraft model and series or that lesser
time for which data is available in the Airliner Price Guide.
(2) Notwithstanding paragraph (1), in computing assessed value,
the assessor may allow for extraordinary obsolescence if supported by
market evidence and the taxpayer may challenge the assessment for
failure to do so. To constitute market evidence of extraordinary
obsolescence and to permit an assessment appeal, the evidence must
show that the functional and or economic obsolescence is in excess of
10 percent of the value for the aircraft model and series otherwise
established pursuant to subparagraph (B), (C), or (D) of paragraph
(1).
(3) For purposes of paragraph (1), if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by the airlines and the taxing counties shall
be substituted.
(d) To calculate the values prescribed in subdivisions (b) and
(c), the taxpayer shall, to the extent that information is reasonably
available to the taxpayer, furnish the county assessor with an
annual property statement that includes the aircraft original costs
as defined in subparagraph (A) of paragraph (1) of subdivision (b) or
(c). If an air carrier that has this information reasonably
available to it fails to report original cost and additions, as
required by Sections 441 and 442, an assessor may make an appropriate
assessment pursuant to Section 501.
401.16. If, for purposes of property taxation, the county assessor
utilizes the reproduction or replacement cost approach to value to
determine the value of tangible personal property or trade fixtures,
both of the following apply:
(a) (1) If the county assessor depreciates this property using
percent good factors published by the State Board of Equalization
that provide separate factors for property that is first acquired new
and property that is first acquired used, the assessor may not
average the published factors to apply these factors to both classes
of new and used property.
(2) Notwithstanding paragraph (1), if information reported by a
taxpayer does not indicate whether this property was first acquired
by the taxpayer new or used, the assessor may average the published
factors.
(b) If the county assessor depreciates this property using percent
good factors that include a minimum percent good, the minimum
percent good factors shall be determined in a manner that is
supportable.
401.17. (a) For the 2005-06 fiscal year to the 2015-16 fiscal year,
inclusive, it shall be rebuttably presumed that the preallocated
fair market value of each make, model, and series of mainline jets,
production freighters, and regional aircraft that has attained situs
within this state is the lesser of the sum total of the amounts
determined under paragraph (1) or the sum total of the amounts
determined under paragraph (2). The value of an individual aircraft
assessed to the original owner of that aircraft shall not exceed its
original cost from the manufacturer. The preallocated fair market
value of an aircraft may be rebutted by evidence including, but not
limited to, appraisals, invoices, and expert testimony.
(1) (A) The original cost for the aircraft, which shall be
determined as follows and adjusted, as applicable, under
subparagraphs (B), (C), and (D):
(i) For owned and leased aircraft, the taxpayer's or lessor's
acquisition cost for that individual aircraft reported in accordance
with generally accepted accounting principles, and to the extent not
included in the acquisition cost, transportation costs and
capitalized interest and the cost of improvements made before a
transaction described in clause (ii). If the original cost for leased
aircraft cannot be determined from information reasonably available
to the taxpayer, original cost may be determined by reference to the
"average new prices" column of the Airliner Price Guide for that
model, series, and year of manufacture of aircraft. If information is
not available in the "average new prices" column for that model,
series, and year, the original cost may be determined using the best
indicator of original cost plus all conversion costs and improvement
costs incurred for that aircraft.
(ii) For sale/leaseback or assignment of purchase rights
transaction aircraft, the average of the taxpayer's cost established
pursuant to clause (i) and the cost established in a sale/leaseback
or assignment of purchase rights transaction for individual aircraft
that transfers the benefits and burdens of ownership to the lessor
for United States federal income tax purposes. In no event shall the
original cost for sale/leaseback aircraft be less than the taxpayer's
acquisition cost.
(iii) In the event of a merger, bankruptcy, or change in
accounting methods by the reporting airline, there shall be a
rebuttable presumption that the cost of the individual aircraft and
the acquisition date reported by the acquired company, if available,
or the cost reported prior to the change in accounting method, are
the original cost and the applicable acquisition date.
(B) (i) For mainline jets and production freighters, the original
cost described in subparagraph (A), plus the cost of any improvements
not otherwise included in the original cost, shall be adjusted from
the date of the acquisition of the aircraft to the lien date using
the monthly United States Department of Labor Producer Price Index
for aircraft and a 20-year straight-line percent-good table starting
from the delivery date of the aircraft to the current owner or, in
the case of a sale/leaseback or assignment of purchase rights
transaction, as described in this section, the current operator with
a minimum combined factor of 25 percent.
(ii) For regional aircraft, the original cost described in
subparagraph (A), plus the cost of any improvements not otherwise
included in the original cost, shall be adjusted from the date of the
acquisition of the aircraft to the lien date using the monthly
United States Department of Labor Producer Price Index for aircraft
and a 16-year straight-line percent-good table starting from the
delivery date of the aircraft to the current owner or, in the case of
a sale/leaseback or assignment of purchase rights transaction, as
described in this section, the current operator with a minimum
combined factor of 25 percent.
(iii) If original cost is determined by reference to the Airliner
Price Guide "average new prices" column, the adjustments required by
this paragraph shall be made by setting the acquisition date of the
aircraft to be the date of the aircraft's manufacture.
(C) (i) For mainline jets and regional aircraft, the assessor
shall analyze the adjusted original cost derived pursuant to
subparagraph (B), for application of an economic obsolescence
allowance which shall be determined as follows:
(I) For the applicable year, the assessor shall calculate the
average annual net revenue per available seat mile, the net load
factor, and the yield utilizing the Airline Quarterly Financial
Review published by the United States Department of Transportation,
and referring to the section descriptive of the passenger airline
industry, entitled "System Operations, System Pax. Majors" for the
calendar year ending December 31 immediately preceding the applicable
assessment date.
(II) For a 10-year benchmark, the assessor shall calculate as of
December 31 for each of the 10 calendar years preceding the
applicable year, the average annual net revenue per available seat
mile, the net load factor, and the yield utilizing the Airline
Quarterly Financial Review published by the United States Department
of Transportation, and referring to the section descriptive of the
passenger airline industry, entitled "System Operations, System Pax.
Majors" for the calendar year ending December 31 immediately
preceding the applicable assessment date.
(ii) (I) The assessor shall compare each factor calculated under
subclause (I) of clause (i) with the corresponding factor calculated
under subclause (II) of clause (i) to derive the percentage that each
of the factors calculated under subclause (I) of clause (i) deviated
from the 10-year benchmark calculated under subclause (II) of clause
(i). The assessor shall then calculate a weighted average of the
indicated percentage adjustments, weighted as follows:
(aa) Net revenue per available seat mile shall be weighted 35
percent.
(ab) Net load factor shall be weighted 35 percent.
(ac) Yield shall be weighted 30 percent.
(II) The assessor shall reduce the adjusted original costs derived
under subparagraph (B) by the percentage adjustment calculated in
subclause (I), but only if the final economic obsolescence determined
under that subclause exceeds 10 percent, otherwise no economic
obsolescence allowance shall be provided.
(D) (i) For production freighters, the assessor shall analyze the
adjusted original cost derived under subparagraph (B), for
application of an economic obsolescence allowance, as follows:
(I) For the applicable year, the assessor shall calculate the
industry average of net revenue per available ton mile and the ton
load factor based upon the Airline Quarterly Financial Review
published by the United States Department of Transportation, and
referring to the section descriptive of the cargo airline industry,
entitled "System Operations, System Cargo Majors" for the calendar
year ending December 31 preceding the relevant assessment date.
(II) For a 10-year benchmark, the assessor shall calculate as of
December 31 for each of the 10 calendar years preceding the
applicable year, the net revenue per available ton mile and the ton
load factor utilizing the Airline Quarterly Financial Review
published by the United States Department of Transportation and
referring to the section descriptive of the cargo airline industry,
entitled "System Operations, System Cargo Majors" as of December 31
for each of the 10 calendar years preceding the calendar year
utilized for the subject year, for the calendar year ending December
31 immediately preceding the applicable assessment date.
(ii) (I) The assessor shall compare each factor calculated under
subclause (I) of clause (i) with the corresponding factor calculated
under subclause (II) of clause (i) to derive the percentage that each
of the factors calculated under subclause (I) of clause (i) deviated
from the 10-year benchmark calculated under subclause (II) of clause
(i). The assessor shall then calculate a weighted average of the
indicated percentage adjustments so that the net revenue per
available ton mile is weighted 50 percent and the ton load factor is
weighted 50 percent.
(II) The assessor shall reduce the adjusted original costs derived
under subparagraph (B) by the percentage adjustment calculated in
subclause (I), but only if the final economic obsolescence determined
under that subclause exceeds 10 percent, otherwise no economic
obsolescence allowance shall be provided.
(2) (A) Except as otherwise provided in subparagraph (B), for each
individual mainline jet, production freighter, or regional aircraft,
the assessor shall identify the value referenced in the "Used Price
of Avg. Acft. Wholesale" column of the Winter edition of the Airliner
Price Guide by make, model, series, and year of manufacture, and
deduct 10 percent from that value for a fleet discount.
(B) For each individual mainline jet, production freighter, or
regional aircraft that is less than two years old and for which the
Airliner Price Guide does not list used wholesale values, the
original cost determined under paragraph (1) of subparagraph (A)
shall be decreased by the lesser of 5 percent or one-half of the
percentage decrease between original cost and 90 percent of the value
listed in the "Used Price of Avg. Acft. Wholesale" column of the
Winter edition of the Airliner Price Guide for a two-year-old
aircraft of that same make, model, and series.
(b) For the 2005-06 fiscal year to the 2015-16 fiscal year,
inclusive, it shall be rebuttably presumed that the preallocated fair
market value for each make, model, and series of converted
freighters that has attained situs within this state is the amount
that is determined as follows:
(1) (A) The assessor shall begin his or her appraisal of a
converted freighter as of the relevant lien date by identifying the
aircraft's original cost as a passenger aircraft prior to conversion.
The aircraft's original cost as a converted freighter shall be the
lesser of:
(i) Its trended original cost as a passenger aircraft prior to
conversion, less a downward adjustment of 10 percent to reflect
tear-outs.
(ii) Its value described in the Winter edition of the Airliner
Price Guide in the "Used Price of Avg. Acft. Wholesale" column in
passenger configuration, less a downward adjustment of 10 percent to
reflect tear-outs.
(B) The amount determined under subparagraph (A) shall be adjusted
according to the following:
(i) If, on the relevant lien date, the frame of the aircraft is 15
years old or more, 50 percent of the cost to convert the aircraft to
a freighter shall be added to the value determined under
subparagraph (A).
(ii) If, on the relevant lien date, the frame of the aircraft is
less than 15 years old, 75 percent of the cost to convert the
aircraft to a freighter shall be added to the value determined under
subparagraph (A).
(iii) In addition, all other improvements, including capitalized
interest, to the aircraft that are not otherwise included in the
aircraft's original and conversion costs shall be added at full
value.
(2) The amount determined under paragraph (1) shall be adjusted
from the date of the conversion of the aircraft to the lien date
using the monthly United States Department of Labor Producer Price
Index for aircraft and a 16-year straight-line percent-good table,
however, the percent-good applied to the aircraft shall in no event
be less than 15 percent.
(3) If the Airliner Price Guide "Used Price of Avg. Acft.
Wholesale" is utilized under paragraph (1), only the improvements and
adjusted conversion costs pertaining to the converted freighter
shall be adjusted from the date of the conversion of the aircraft to
the relevant lien date using the monthly United States Department of
Labor Producer Price Index for aircraft and a 16-year straight-line
percent-good table. In no event, however, shall the percent-good
applied to the improvements and adjusted conversion costs be less
than 15 percent.
(4) (A) Except as otherwise provided in subparagraph (B), the
assessor shall reduce the adjusted original cost, plus improvements,
and adjusted conversion costs, derived under paragraphs (1) to (3),
inclusive, by the obsolescence percentage adjustment calculated for
production freighters under subparagraph (D) of paragraph (1) of
subdivision (a).
(B) If the Airliner Price Guide "Used Price of Avg. Acft.
Wholesale" is utilized under paragraph (1), only the improvements and
adjusted conversion costs pertaining to the converted freighter
shall be reduced by the obsolescence percentage adjustment described
in subparagraph (A).
(c) For purposes of this section, if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by commercial air carriers and the counties
in which certificated aircraft have situs shall be substituted. If
these parties do not agree on a guide or adjustment, the State Board
of Equalization shall determine the guide or adjustment.
(d) The taxpayer shall, to the extent that information is
reasonably available to the taxpayer, furnish the county assessor
with an annual property statement that includes the aircraft original
costs as defined in subparagraph (A) of paragraph (1) of subdivision
(a). If an air carrier that has this information reasonably
available to it fails to report original cost and improvements, as
required by Sections 441 and 442, an assessor may in that case make
an appropriate assessment pursuant to Section 501.
(e) For purposes of this section, all of the following apply:
(1) "Converted freighter" means a certificated aircraft, as
defined in Section 1150, that, following its original manufacture,
was used for passenger transportation, but was later converted to be
used primarily for cargo transportation purposes.
(2) "Mainline jet" means a certificated aircraft, as defined in
Section 1150, that is either of the following:
(A) Manufactured by Boeing, Airbus, or McDonnell Douglas.
(B) Capable of being configured with approximately 100 seats or
more.
(3) "Production Freighter" means a certificated aircraft, as
defined in Section 1150, that immediately following its manufacture
is deployed primarily for cargo transportation purposes.
(4) "Regional aircraft" means a certificated aircraft, as defined
in Section 1150, that is either of the following:
(A) Manufactured by ATR (Avions De Transport Regional), Beech,
British Aerospace Jetstream, Canadair Regional Jet, Cessna,
DeHaviland, Embraer, Fairchild, or Saab.
(B) Generally configured with fewer than 100 seats.
(5) "Improvements" means the cost of any modifications or capital
additions that materially add to the value of or substantially
prolong the useful life of the aircraft, or make it adaptable to a
different use. "Improvements" include modification costs incurred
during a heavy maintenance visit to the extent that they materially
add to the value of or substantially prolong the useful life of the
aircraft. "Improvements" do not include repair and maintenance costs
incurred for the purpose of keeping the aircraft in an ordinarily
efficient operating condition.
(6) "Net revenue per available seat mile" means operating revenue
per available seat mile less cost per available seat mile as
determined by the United States Department of Transportation.
(7) "Net load factor" means actual passenger load factor less
break-even passenger load factor, as determined by the United States
Department of Transportation.
(8) "Net revenue per available ton mile" means operating revenue
per ton mile less cost per available ton mile as determined by the
United States Department of Transportation.
(9) "Yield" means average revenue per revenue passenger mile as
determined by the United States Department of Transportation.
(10) "Ton Load Factor" means that percentage of effective use of
cargo capacity as determined by the United States Department of
Transportation.
(f) The amendments made by the act adding this subdivision shall
apply with respect to lien dates occurring on and after January 1,
2011.
401.20. (a) (1) The State Board of Equalization shall, in
consultation with the California Assessors' Association and
representatives of the computer, semiconductor, and biopharmaceutical
industries, conduct a study to obtain and analyze data in order to
update the information used to develop the valuation factors annually
published by the State Board of Equalization that are applied to
nonproduction computers, semiconductor manufacturing equipment, and
biopharmaceutical industry equipment and fixtures.
(2) The State Board of Equalization shall conduct the study
described in paragraph (1) only if funds are appropriated by the
Legislature to the board for that purpose during the 2005-06 Regular
Session.
(3) To the extent the State Board of Equalization periodically
conducts these studies, the board shall publish revised valuation
factors based on the updated information. If the board reviews the
data and determines that an update is not warranted, the existing
factors shall remain in effect.
(b) (1) Notwithstanding any other provision of law relating to the
determination of the values for property tax assessment, values
determined by using valuation factors resulting from the study
described in subdivision (a), as instructed by the State Board of
Equalization for nonproduction computers, semiconductor manufacturing
equipment, and biopharmaceutical industry equipment and fixtures,
shall be rebuttably presumed to be the full cash value.
(2) The assessor or the taxpayer shall have the right to present
evidence supporting values different from those based on the
published factors in order to attempt to overcome the presumption.
(c) The presumption in subdivision (b) shall not apply to any
particular tax year if the information upon which the valuation
factors for that category of property are based was last reviewed by
the State Board of Equalization more than six years before the lien
date for that tax year.
402. Cultivated and uncultivated land of the same quality and
similarly situated shall be assessed at the same value.
402.1. (a) In the assessment of land, the assessor shall consider
the effect upon value of any enforceable restrictions to which the
use of the land may be subjected. These restrictions shall include,
but are not limited to, all of the following:
(1) Zoning.
(2) Recorded contracts with governmental agencies other than those
provided in Sections 422 and 422.5.
(3) Permit authority of, and permits issued by, governmental
agencies exercising land use powers concurrently with local
governments, including the California Coastal Commission and regional
coastal commissions, the San Francisco Bay Conservation and
Development Commission, and the Tahoe Regional Planning Agency.
(4) Development controls of a local government in accordance with
any local coastal program certified pursuant to Division 20
(commencing with Section 30000) of the Public Resources Code.
(5) Development controls of a local government in accordance with
a local protection program, or any component thereof, certified
pursuant to Division 19 (commencing with Section 29000) of the Public
Resources Code.
(6) Environmental constraints applied to the use of land pursuant
to provisions of statutes.
(7) Hazardous waste land use restriction pursuant to Section 25240
of the Health and Safety Code.
(8) A recorded conservation, trail, or scenic easement, as
described in Section 815.1 of the Civil Code, that is granted in
favor of a public agency, or in favor of a nonprofit corporation
organized pursuant to Section 501(c)(3) of the Internal Revenue Code
that has as its primary purpose the preservation, protection, or
enhancement of land in its natural, scenic, historical, agricultural,
forested, or open-space condition or use.
(b) There is a rebuttable presumption that restrictions will not
be removed or substantially modified in the predictable future and
that they will substantially equate the value of the land to the
value attributable to the legally permissible use or uses.
(c) Grounds for rebutting the presumption may include, but are not
necessarily limited to, the past history of like use restrictions in
the jurisdiction in question and the similarity of sales prices for
restricted and unrestricted land. The possible expiration of a
restriction at a time certain shall not be conclusive evidence of the
future removal or modification of the restriction unless there is no
opportunity or likelihood of the continuation or renewal of the
restriction, or unless a necessary party to the restriction has
indicated an intent to permit its expiration at that time.
(d) In assessing land with respect to which the presumption is
unrebutted, the assessor shall not consider sales of otherwise
comparable land not similarly restricted as to use as indicative of
value of land under restriction, unless the restrictions have a
demonstrably minimal effect upon value.
(e) In assessing land under an enforceable use restriction wherein
the presumption of no predictable removal or substantial
modification of the restriction has been rebutted, but where the
restriction nevertheless retains some future life and has some effect
on present value, the assessor may consider, in addition to all
other legally permissible information, representative sales of
comparable lands that are not under restriction but upon which
natural limitations have substantially the same effect as
restrictions.
(f) For the purposes of this section the following definitions
apply:
(1) "Comparable lands" are lands that are similar to the land
being valued in respect to legally permissible uses and physical
attributes.
(2) "Representative sales information" is information from sales
of a sufficient number of comparable lands to give an accurate
indication of the full cash value of the land being valued.
(g) It is hereby declared that the purpose and intent of the
Legislature in enacting this section is to provide for a method of
determining whether a sufficient amount of representative sales
information is available for land under use restriction in order to
ensure the accurate assessment of that land. It is also hereby
declared that the further purpose and intent of the Legislature in
enacting this section and Section 1630 is to avoid an assessment
policy which, in the absence of special circumstances, considers uses
for land that legally are not available to the owner and not
contemplated by government, and that these sections are necessary to
implement the public policy of encouraging and maintaining effective
land use planning. Nothing in this statute shall be construed as
requiring the assessment of any land at a value less than as required
by Section 401 or as prohibiting the use of representative
comparable sales information on land under similar restrictions when
this information is available.
402.3. An assessor shall consider any restrictive covenant,
easement, restriction, or servitude adopted pursuant to Section
25202.5, 25222.1, or 25355.5 of the Health and Safety Code or any
restriction, easement, covenant, or servitude imposed pursuant to
Section 25230 of the Health and Safety Code as an enforceable
restriction, easement, covenant, or servitude subject to Section
402.1 and shall appropriately reassess any land, the use of which has
been so restricted, at the lien date following the adoption or
imposition of the covenant, easement, servitude, or restriction.
402.5. When valuing property by comparison with sales of other
properties, in order to be considered comparable, the sales shall be
sufficiently near in time to the valuation date, and the properties
sold shall be located sufficiently near the property being valued,
and shall be sufficiently alike in respect to character, size,
situation, usability, zoning or other legal restriction as to use
unless rebutted pursuant to Section 402.1, to make it clear that the
properties sold and the properties being valued are comparable in
value and that the cash equivalent price realized for the properties
sold may fairly be considered as shedding light on the value of the
property being valued. "Near in time to the valuation date" does not
include any sale more than 90 days after the lien date.
402.9. In valuing property for persons of low and moderate income
that is financed under Section 236 or Section 515 of the federal
National Housing Act, since federal restrictions accompanying these
programs substantially affect actual income and expenses of the
property owner, the assessor shall not consider as income any
interest subsidy payments made to a lender on that property by the
federal government.
402.95. In valuing property under the income method of appraisal,
the assessor shall exclude from income the benefit from federal and
state low-income housing tax credits allocated by the California Tax
Credit Allocation Committee pursuant to Section 42 of the Internal
Revenue Code and Sections 12206, 17058, and 23610.5.
403. Land sold by the State for which no patent has been issued
shall be assessed like other land, but the owner is entitled to a
deduction from the assessed valuation of the amount due the State as
principal on the purchase price.
404. All taxable property, except State assessed property, shall be
assessed by the assessing agency of the taxing agency where the
property is situated.
405. (a) Annually, the assessor shall assess all the taxable
property in his county, except state-assessed property, to the
persons owning, claiming, possessing, or controlling it on the lien
date.
The assessor may assess the property on the secured roll to the
person owning, claiming, possessing or controlling it for the ensuing
fiscal year.
(b) The assessor may assess all taxable property in his county on
the unsecured roll jointly to both the lessee and lessor of such
property.
(c) Notices of assessment and tax bills relating to jointly
assessed property on the unsecured roll shall be mailed to both the
lessee and the lessor at their latest addresses known to the
assessor.
405.5. The assessor shall periodically appraise all property not
subject to the provisions of Article XIII A of the Constitution to
substantiate the judgment of its full cash value or, when provided
for by law, its restricted value for uniform assessment purposes.
407. Annually, on the second Monday in July, the assessor shall
transmit a statistical statement to the board, supplying any
statistical information which the board may require, and shall supply
from time to time any other information required by the board.
408. (a) Except as otherwise provided in subdivisions (b), (c),
(d), and (e), any information and records in the assessor's office
that are not required by law to be kept or prepared by the assessor,
disabled veterans' exemption claims, and homeowners' exemption
claims, are not public documents and shall not be open to public
inspection. Property receiving the homeowners' exemption shall be
clearly identified on the assessment roll. The assessor shall
maintain records which shall be open to public inspection to identify
those claimants who have been granted the homeowners' exemption.
(b) The assessor may provide any appraisal data in his or her
possession to the assessor of any county.
The assessor shall disclose information, furnish abstracts, or
permit access to all records in his or her office to law enforcement
agencies, the county grand jury, the board of supervisors or their
duly authorized agents, employees, or representatives when conducting
an investigation of the assessor's office pursuant to Section 25303
of the Government Code, the county recorder when conducting an
investigation to determine whether a documentary transfer tax is
imposed, the Controller, employees of the Controller for property tax
postponement purposes, probate referees, employees of the Franchise
Tax Board for tax administration purposes only, staff appraisers of
the Department of Financial Institutions, the Department of
Transportation, the Department of General Services, the State Board
of Equalization, the State Lands Commission, the State Department of
Social Services, the Department of Child Support Services, the
Department of Water Resources, and other duly authorized legislative
or administrative bodies of the state pursuant to their authorization
to examine the records. Whenever the assessor discloses information,
furnishes abstracts, or permits access to records in his or her
office to staff appraisers of the Department of Financial
Institutions, the Department of Transportation, the Department of
General Services, the State Lands Commission, or the Department of
Water Resources pursuant to this section, the department shall
reimburse the assessor for any costs incurred as a result thereof.
(c) Upon the request of the tax collector, the assessor shall
disclose and provide to the tax collector information used in the
preparation of that portion of the unsecured roll for which the taxes
thereon are delinquent. The tax collector shall certify to the
assessor that he or she needs the information requested for the
enforcement of the tax lien in collecting those delinquent taxes.
Information requested by the tax collector may include social
security numbers, and the assessor shall recover from the tax
collector his or her actual and reasonable costs for providing the
information. The tax collector shall add the costs described in the
preceding sentence to the assessee's delinquent tax lien and collect
those costs subject to subdivision (e) of Section 2922.
(d) The assessor shall, upon the request of an assessee or his or
her designated representative, permit the assessee or representative
to inspect or copy any market data in the assessor's possession. For
purposes of this subdivision, "market data" means any information in
the assessor's possession, whether or not required to be prepared or
kept by him or her, relating to the sale of any property comparable
to the property of the assessee, if the assessor bases his or her
assessment of the assessee's property, in whole or in part, on that
comparable sale or sales. The assessor shall provide the names of the
seller and buyer of each property on which the comparison is based,
the location of that property, the date of the sale, and the
consideration paid for the property, whether paid in money or
otherwise. However, for purposes of providing market data, the
assessor may not display any document relating to the business
affairs or property of another.
(e) (1) With respect to information, documents, and records, other
than market data as defined in subdivision (d), the assessor shall,
upon request of an assessee of property, or his or her designated
representative, permit the assessee or representative to inspect or
copy all information, documents, and records, including auditors'
narrations and workpapers, whether or not required to be kept or
prepared by the assessor, relating to the appraisal and the
assessment of the assessee's property, and any penalties and interest
thereon.
(2) After enrolling an assessment, the assessor shall respond to a
written request for information supporting the assessment,
including, but not limited to, any appraisal and other data requested
by the assessee.
(3) Except as provided in Section 408.1, an assessee, or his or
her designated representative, may not be permitted to inspect or
copy information and records that also relate to the property or
business affairs of another, unless that disclosure is ordered by a
competent court in a proceeding initiated by a taxpayer seeking to
challenge the legality of the assessment of his or her property.
(f) (1) Permission for the inspection or copying requested
pursuant to subdivision (d) or (e) shall be granted as soon as
reasonably possible to the assessee or his or her designated
representative.
(2) If the assessee, or his or her designated representative,
requests the assessor to make copies of any of the requested records,
the assessee shall reimburse the assessor for the reasonable costs
incurred in reproducing and providing the copies.
(3) If the assessor fails to permit the inspection or copying of
materials or information as requested pursuant to subdivision (d) or
(e) and the assessor introduces any requested materials or
information at any assessment appeals board hearing, the assessee or
his or her representative may request and shall be granted a
continuance for a reasonable period of time. The continuance shall
extend the two-year period specified in subdivision (c) of Section
1604 for a period of time equal to the period of continuance.
408.1. (a) The assessor shall maintain a list of transfers of any
interest in property, other than undivided interests, within the
county, which have occurred within the preceding two-year period.
(b) The list shall be divided into geographical areas and shall be
revised on the 30th day of each calendar quarter to include all such
transactions which are recorded as of the preceding quarter.
(c) The list shall contain the following information:
(1) Transferor and transferee, if available;
(2) Assessor's parcel number;
(3) Address of the sales property;
(4) Date of transfer;
(5) Date of recording and recording reference number;
(6) Where it is known by the assessor, the consideration paid for
such property; and
(7) Additional information which the assessor in his discretion
may wish to add to carry out the purpose and intent of this section.
Other than sales information, the assessor shall not include
information on the list which relates to the business or business
affairs of the owner of the property, information concerning the
business carried on upon the subject property, or the income or
income stream generated by the property.
(d) The list shall be open to inspection by any person. The
assessor may require the payment of a nonrefundable fee equal to an
amount which would reimburse local agencies for their actual
administrative costs incurred in such inspections or ten dollars
($10), whichever is the lesser amount.
(e) The provisions of this section shall not apply to any county
with a population of under 50,000 people, as determined by the 1970
federal decennial census.
(f) Pursuant to Section 481, the assessor shall not include
information on the list which was furnished in the change in
ownership statement by the transferee and is not otherwise public
information.
408.2. (a) Except as otherwise provided in Sections 63.1, 69.5,
451, and 481 of this code and in Section 6254 of the Government Code,
any information and records in the assessor's office which are
required by law to be kept or prepared by the assessor, other than
homeowners' exemption claims, are public records and shall be open to
public inspection. Property receiving the homeowners' exemption
shall be clearly identified on the assessment roll. The assessor
shall maintain records which shall be open to public inspection to
identify those claimants who have been granted the homeowners'
exemption.
(b) The assessor may provide any appraisal data in his or her
possession to the assessor of any county and shall provide any market
data in his or her possession to an assessee of property or his or
her designated representative upon request. The assessor shall permit
an assessee of property or his or her designated representative to
inspect at the assessor's office any information and records, whether
or not required to be kept or prepared by the assessor, relating to
the appraisal and the assessment of his or her property. Except as
provided in Section 408.1, an assessee or his or her designated
representative, however, shall not be provided or permitted to
inspect information and records, other than market data, which also
relate to the property or business affairs of another person, unless
that disclosure is ordered by a competent court in a proceeding
initiated by a taxpayer seeking to challenge the legality of his or
her assessment.
(c) The assessor shall disclose information, furnish abstracts, or
permit access to all records in his or her office to law enforcement
agencies, the county grand jury, the board of supervisors or their
duly authorized agents, employees or representatives when conducting
an investigation of the assessor's office pursuant to Section 25303
of the Government Code, the Controller, probate referees, employees
of the Franchise Tax Board for tax administration purposes only, the
State Board of Equalization, and other duly authorized legislative or
administrative bodies of the state pursuant to their authorization
to examine the records.
(d) For purposes of this section, "market data" means any
information in the assessor's possession, whether or not required to
be prepared or kept by him or her, relating to the sale of any
property comparable to the property of the assessee, if the assessor
bases his or her assessment of the assessee's property, in whole or
in part, on that comparable sale or sales. The assessor shall provide
the names of the seller and buyer of each property on which the
comparison is based, the location of that property, the date of the
sale, and the consideration paid for the property, whether paid in
money or otherwise, but for purposes of providing market data, the
assessor shall not display any document relating to the business
affairs or property of another.
(e) This section applies only to a county with a population that
exceeds 4,000,000.
408.3. (a) Except as otherwise provided in Sections 451 and 481 and
in Section 6254 of the Government Code, property characteristics
information maintained by the assessor is a public record and shall
be open to public inspection.
(b) For purposes of this section, "property characteristics,"
includes, but is not limited to, the year of construction of
improvements to the property, their square footage, the number of
bedrooms and bathrooms of all dwellings, the property's acreage, and
other attributes of or amenities to the property, such as swimming
pools, views, zoning classifications or restrictions, use code
designations, and the number of dwelling units of multiple family
properties.
(c) Notwithstanding Section 6257 of the Government Code or any
other provision of law, if the assessor provides property
characteristics information at the request of any party, the assessor
may require that a fee reasonably related to the actual cost of
developing and providing the information be paid by the party
receiving the information.
The actual cost of providing the information is not limited to
duplication or production
401. Every assessor shall assess all property subject to general
property taxation at its full value.
401.3. The assessor shall assess all property subject to general
property taxation on the lien date as provided in Articles XIII and
XIII A of the Constitution and any legislative authorization
thereunder.
401.4. When valuing an owner-occupied single-family dwelling and
the land on which it is situated that may be required for the
convenient occupation and use of such dwelling, if such dwelling is
on land which is zoned exclusively for single-family home use or
which is zoned for agricultural use where single-family homes are
permitted, the assessor shall not value the land at any value greater
than that which would reflect the use of the land as a site for a
single-family dwelling.
As used in this section, owner-occupied single-family dwelling
means any single-family dwelling occupied by an owner thereof as his
principal place of residence on the lien date.
401.5. The board shall issue to assessors data relating to costs of
property, or, with respect to commercial and industrial property,
shall, after a public hearing, review and approve commercially
available data, and shall issue to assessors other information as in
the judgment of the board will promote uniformity in appraisal
practices and in assessed values throughout the state. An assessor
shall adapt data received pursuant to this section to local
conditions and may consider that data together with other factors as
required by law in the assessment of property for tax purposes.
401.6. (a) In any case in which the cost approach method is used to
value special use property for purposes of taxation, the assessor
shall not add a component for entrepreneurial profit unless he or she
has market-derived evidence that entrepreneurial profit exists and
has not been fully offset by physical deterioration or economic
obsolescence.
(b) For purposes of this section:
(1) "Entrepreneurial profit" means either of the following:
(A) The amount a developer would expect to recover with respect to
a property in excess of the amount of the developer's costs incurred
with respect to that property.
(B) The difference between the fair market value of a property and
the total costs incurred with respect to that property.
(2) "Total costs" means both direct costs of construction,
including, but not limited to, the costs of land, building materials,
and labor, and indirect costs of construction, including, but not
limited to, the costs of construction capital and permit fees.
(3) "Special use property" means a limited market property with a
unique physical design, special construction materials, or a layout
that restricts its utility to the use for which it was built.
401.8. (a) Notwithstanding any other provision of law, commencing
with the 1995-96 fiscal year, the county assessor shall determine the
property tax assessed value in the county attributable to assessable
intercounty pipeline rights-of-way on the basis of a single,
countywide parcel per taxpayer by combining the assessed values of
each separate right-of-way interest, or segment thereof, of the
taxpayer in the county. However, the assessor shall maintain a
separate base year value as determined pursuant to Section 110.1 for
each separate right-of-way interest, or segment thereof.
(b) Any assessment appeal that is authorized to be filed in
Sections 401.10 to 401.12, inclusive, with respect to an intercounty
pipeline right-of-way interest, or segment thereof, for which the
assessor did not assign a value in the manner specified in
subdivision (a) of Section 401.10, shall be filed by the taxpayer
upon one or more specified intercounty pipeline right-of-way
interests, or segments thereof, as described in subdivision (a), and
in no event shall be filed with respect to a taxpayer's entire,
undivided intercounty pipeline right-of-way. The assessor shall
maintain for five calendar years those records for each assessment
year that identify each intercounty pipeline right-of-way interest,
or segment thereof, located within his or her county, and shall
provide the information in those records with respect to a given
intercounty pipeline right-of-way interest, or segment thereof, to
the taxpayer upon request.
401.10. (a) Notwithstanding any other provision of law relating to
the determination of the values upon which property taxes are based,
values for each tax year from the 1984-85 tax year to the 2015-16 tax
year, inclusive, for intercounty pipeline rights-of-way on publicly
or privately owned property, including those rights-of-way that are
the subject of a change in ownership, new construction, or any other
reappraisable event during the period from March 1, 1975, to June 30,
2016, inclusive, shall be rebuttably presumed to be at full cash
value for that year, if all of the following conditions are met:
(1) (A) The full cash value is determined to equal a 1975-76 base
year value, annually adjusted for inflation in accordance with
subdivision (b) of Section 2 of Article XIII A of the California
Constitution, and the 1975-76 base year value was determined in
accordance with the following schedule:
(i) Twenty thousand dollars ($20,000) per mile for a high density
property.
(ii) Twelve thousand dollars ($12,000) per mile for a transitional
density property.
(iii) Nine thousand dollars ($9,000) per mile for a low density
property.
(B) For purposes of this section, the density classifications
described in subparagraph (A) are defined as follows:
(i) "High density" means Category 1 (densely urban) as established
by the State Board of Equalization.
(ii) "Transitional density" means Category 2 (urban) as
established by the State Board of Equalization.
(iii) "Low density" means Category 3 (valley-agricultural),
Category 4 (grazing), and Category 5 (mountain and desert) as
established by the State Board of Equalization.
(2) The full cash value is determined utilizing the same property
density classifications that were assigned to the property by the
State Board of Equalization for the 1984-85 tax year or, if density
classifications were not so assigned to the property for the 1984-85
tax year, the density classifications that were first assigned to the
property by the board for a subsequent tax year.
(3) (A) If a taxpayer owns multiple pipelines in the same
right-of-way, an additional 50 percent of the value attributed to the
right-of-way for the presence of the first pipeline, as determined
under paragraphs (1) and (2), shall be added for the presence of each
additional pipeline up to a maximum of two additional pipelines. For
any particular taxpayer, the total valuation for a multiple pipeline
right-of-way shall not exceed 200 percent of the value determined
for the right-of-way of the first pipeline in the right-of-way in
accordance with paragraphs (1) and (2).
(B) If the State Board of Equalization has determined that an
intercounty pipeline, located within a multiple pipeline right-of-way
previously valued in accordance with subparagraph (A), has been
abandoned as a result of physical removal or blockage, the assessed
value of the right-of-way attributable to the last pipeline enrolled
in accordance with subparagraph (A) shall be reduced by not less than
75 percent of that increase in assessed value that resulted from the
application of subparagraph (A).
(4) If all pipelines of a taxpayer located within the same
pipeline right-of-way, previously valued in accordance with this
section, are determined by the State Board of Equalization to have
been abandoned as the result of physical removal or blockage, the
assessed value of that right-of-way to that taxpayer shall be
determined to be no more than 25 percent of the assessed value
otherwise determined for the right-of-way for a single pipeline of
that taxpayer pursuant to paragraphs (1) and (2).
(b) If the assessor assigns values for any tax year from the
1984-85 tax year to the 2015-16 tax year, inclusive, in accordance
with the methodology specified in subdivision (a), the taxpayer's
right to assert any challenge to the right to assess that property,
whether in an administrative or judicial proceeding, shall be deemed
to have been raised and resolved for that tax year and the values
determined in accordance with that methodology shall be rebuttably
presumed to be correct. If the assessor assigns values for any tax
year from the 1984-85 tax year to the 2015-16 tax year, inclusive, in
accordance with the methodology specified in subdivision (a), any
pending taxpayer lawsuit that challenges the right to assess the
property shall be dismissed by the taxpayer with prejudice as it
applies to intercounty pipeline rights-of-way.
(c) Notwithstanding any change in ownership, new construction, or
decline in value occurring after March 1, 1975, if the assessor
assigns values for rights-of-way for any tax year from the 1984-85
tax year to the 2015-16 tax year, inclusive, in accordance with the
methodology specified in subdivision (a), the taxpayer may not
challenge the right to assess that property and the values determined
in accordance with that methodology shall be rebuttably presumed to
be correct for that property for that tax year.
(d) Notwithstanding any change in ownership, new construction, or
decline in value occurring after March 1, 1975, if the assessor does
not assign values for rights-of-way for any tax year from the 1984-85
tax year to the 2015-16 tax year, inclusive, at the 1975-76 base
year values specified in subdivision (a), any assessed value that is
determined on the basis of valuation standards that differ, in whole
or in part, from those valuation standards set forth in subdivision
(a) shall not benefit from any presumption of correctness, and the
taxpayer may challenge the right to assess that property or the
values for that property for that tax year. As used herein, a
challenge to the right to assess shall include any assessment appeal,
claim for refund, or lawsuit asserting any right, remedy, or cause
of action relating to or arising from, but not limited to, the
following or similar contentions:
(1) That the value of the right-of-way is included in the value of
the underlying fee or railroad right-of-way.
(2) That assessment of the value of the right-of-way to the owner
of the pipeline would result in double assessment.
(3) That the value of the right-of-way may not be assessed to the
owner of the pipeline separately from the assessment of the value of
the underlying fee.
(e) Notwithstanding any other provision of law, during a four-year
period commencing on January 1, 1996, the assessor may issue an
escape assessment in accordance with the specific valuation standards
set forth in subdivision (a) for the following taxpayers and tax
years:
(1) Any intercounty pipeline right-of-way taxpayer who was a
plaintiff in Southern Pacific Pipe Lines, Inc. v. State Board of
Equalization (1993) 14 Cal. App. 4th 42, for the tax years 1984-85 to
1996-97, inclusive.
(2) Any intercounty pipeline right-of-way taxpayer who was not a
plaintiff in Southern Pacific Pipe Lines, Inc. v. State Board of
Equalization (1993) 14 Cal. App. 4th 42, for the tax years 1989-90 to
1996-97, inclusive.
(f) Any escape assessment levied under subdivision (e) shall not
be subject to penalties or interest under the provisions of Section
532. If payment of any taxes due under this section is made within 45
days of demand by the tax collector for payment, the county shall
not impose any late payment penalty or interest. Taxes not paid
within 45 days of demand by the tax collector shall become delinquent
at that time, and the delinquent penalty, redemption penalty, or
other collection provisions of this code shall thereafter apply.
(g) For purposes of this section, "intercounty pipeline
right-of-way" means, except as otherwise provided in this
subdivision, any interest in publicly or privately owned real
property through which or over which an intercounty pipeline is
placed. However, "intercounty pipeline right-of-way" does not include
any parcel or facility that the State Board of Equalization
originally separately assessed using a valuation method other than
the multiplication of pipeline length within a subject property by a
unit value determined in accordance with the density category of that
subject property.
(h) This section shall remain in effect only until January 1,
2016, and, as of that date is repealed, unless a later enacted
statute, that is enacted before January 1, 2016, deletes or extends
that date.
401.12. Sections 401.10 and 401.11 do not abrogate, rescind,
preclude, or otherwise affect any separate settlement agreement
entered into prior to the effective date of those sections between a
county and an intercounty pipeline right-of-way taxpayer concerning
the subject matter of Sections 401.10 and 401.11. In the event of a
conflict between any settlement agreement and the provisions of
Sections 401.10 and 401.11, the settlement agreement shall control.
401.13. Notwithstanding any other provision of law, on or after
January 1, 1998, the assessor shall determine the assessed value of
pipelines and related rights-of-way that are located wholly within
the county on the basis of a single, countywide parcel per taxpayer,
and, to that end, shall combine the assessed value of each component
or segment of those pipelines or rights-of-way. However, the assessor
shall maintain a separate base year value for each of these
components or segments.
401.15. (a) Notwithstanding any other provision of law, for any
county that makes available the credits provided for in Section
5096.3, the full cash values of certificated aircraft for fiscal
years to the 1997-98 fiscal year, inclusive, are presumed to be those
values enrolled by the county assessor or, in the case of timely
escape assessments upon certificated aircraft issued on or after
April 1, 1998, pursuant to Sections 531, 531.3, and 531.4, the values
enrolled upon those escape assessments, provided that the escape
assessment is made in accordance with the methodology in subdivision
(b). For escape assessments for fiscal years to the 1997-98 fiscal
year, inclusive, the assessor shall use the methodology and minimum
and market values set by the California Assessors' Association for
the applicable fiscal year in lieu of the methodology set forth in
subparagraph (C) or (D) of paragraph (1) of subdivision (b). The
assessor is not required to revise or change existing enrolled
assessments that are not subject to escape assessment to reflect the
methodology in this section. Nothing in this section precludes audit
adjustments and offsets as set forth in Section 469 or the correction
of reporting errors raised by an airline. Nothing in this section
affects any presumption of correctness concerning allocation of
aircraft values.
(b) (1) For the 1998-99 fiscal year to the 2002-03 fiscal year,
inclusive, and including escape assessments levied on or after April
1, 1998, for any fiscal year to the 2002-03 fiscal year, inclusive,
except as otherwise provided in subdivision (a), certificated
aircraft shall be presumed to be valued at full market value if all
of the following conditions are met:
(A) Except as provided in subparagraph (D), value is derived using
original cost. The original cost shall be the greater of the
following:
(i) Taxpayer's cost for that individual aircraft reported in
accordance with generally accepted accounting principles, so long as
that produces net acquisition cost, and to the extent not included in
the taxpayer's cost, transportation costs and capitalized interest
and the cost of any capital addition or modification made before a
transaction described in clause (ii).
(ii) The cost established in a sale/leaseback or assignment of
purchase rights transaction for that individual aircraft that
transfers the benefits and burdens of ownership to the lessor for
United States federal income tax purposes.
If the original cost for leased aircraft cannot be determined from
information reasonably available to the taxpayer, original cost may
be determined by reference to the "average new prices" column of the
Airliner Price Guide for that model, series, and year of manufacture
of aircraft. If information is not available in the "average new
prices" column for that model, series, and year, the original cost
may be determined using the best indicator of original cost plus all
conversion costs incurred for that aircraft. In the event of a
merger, bankruptcy, or change in accounting methods by the reporting
airline, there shall be a rebuttable presumption that the cost of the
individual aircraft and the acquisition date reported by the
acquired company, if available, or the cost reported prior to the
change in accounting method, are the original cost and the applicable
acquisition date.
(B) Original cost, plus the cost of any capital additions or
modifications not otherwise included in the original cost, shall be
adjusted from the date of the acquisition of the aircraft to the lien
date using the producer price index for aircraft and a 16-year
straight-line percent good table starting from the delivery date of
the aircraft to the current owner or, in the case of a sale/leaseback
or assignment of purchase rights transaction, as described in this
section, the current operator with a minimum combined factor of 25
percent, unless this adjustment results in a value less than the
minimum value for that aircraft computed pursuant to subparagraph
(C), in which case the minimum value may be used. If original cost is
determined by reference to the Airliner Price Guide "average new
prices" column, the adjustments required by this paragraph shall be
made by setting the acquisition date of the aircraft to be the date
of the aircraft's manufacture.
(C) For certificated aircraft of a model and series that has been
in revenue service for eight or more years, the minimum value shall
not exceed the average of the used aircraft prices shown in columns
other than the "average new prices" column for used aircraft of the
oldest aircraft for that model and series in the Airliner Price Guide
most recently published as of the lien date. Minimum values shall
not be utilized for certificated aircraft of a model and series that
has been in revenue service for less than eight years.
(D) For out-of-production aircraft that were recommended to be
valued by a market approach for 1998 by the California Assessors'
Association, assessments will be based at the lower of the following:
(i) The values established by the association for the 1998 lien
date.
(ii) The average of the used aircraft prices shown in the columns
other than the "average new prices" column for used aircraft of the
five oldest years for the aircraft model and series or that lesser
time for which data is available in the Airliner Price Guide.
(2) Notwithstanding paragraph (1), in computing assessed value,
the assessor may allow for extraordinary obsolescence if supported by
market evidence and the taxpayer may challenge the assessment for
failure to do so. To constitute market evidence of extraordinary
obsolescence and to permit an assessment appeal, the evidence must
show that the functional and/or economic obsolescence is in excess of
10 percent of the value for the aircraft model and series otherwise
established pursuant to subparagraph (B), (C), or (D) of paragraph
(1).
(3) For purposes of paragraph (1), if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by the airlines and the taxing counties shall
be substituted.
(c) (1) For the 2003-04 fiscal year, certificated aircraft shall
be presumed to be valued at full market value if all of the following
conditions are met:
(A) Except as provided in subparagraph (D), value is derived using
original cost. The original cost shall be the greater of the
following:
(i) Taxpayer's cost for that individual aircraft reported in
accordance with generally accepted accounting principles, so long as
that produces net acquisition cost, and to the extent not included in
the taxpayer's cost, transportation costs and capitalized interest
and the cost of any capital addition or modification made before a
transaction described in clause (ii).
(ii) Taxpayer's cost as established pursuant to this subdivision
plus one-half of the incremental difference between taxpayer's cost
and the cost established in a sale/leaseback or assignment of
purchase rights transaction for individual aircraft that transfers
the benefits and burdens of ownership to the lessor for United States
federal income tax purposes.
If the original cost for leased aircraft cannot be determined from
information reasonably available to the taxpayer, original cost may
be determined by reference to the "average new prices" column of the
Airliner Price Guide for that model, series, and year of manufacture
of aircraft. If information is not available in the "average new
prices" column for that model, series, and year, the original cost
may be determined using the best indicator of original cost plus all
conversion costs incurred for that aircraft. In the event of a
merger, bankruptcy, or change in accounting methods by the reporting
airline, there shall be a rebuttable presumption that the cost of the
individual aircraft and the acquisition date reported by the
acquired company, if available, or the cost reported prior to the
change in accounting method, are the original cost and the applicable
acquisition date.
(B) Original cost, plus the cost of any capital additions or
modifications not otherwise included in original cost, shall be
adjusted from the date of the acquisition of the aircraft to the lien
date using the producer price index for aircraft and a 16-year
straight-line percent good table starting from the delivery date of
the aircraft to the current owner or, in the case of a sale/leaseback
or assignment of purchase rights transaction, as described in this
section, the current operator with a minimum combined factor of 25
percent, unless this adjustment results in a value less than the
minimum value for that aircraft computed pursuant to subparagraph
(C), in which case the minimum value may be used. If original cost is
determined by reference to the Airliner Price Guide "average new
prices" column, the adjustments required by this paragraph shall be
made by setting the acquisition date of the aircraft to be the date
of the aircraft's manufacture.
(C) For certificated aircraft of a model and series that has been
in revenue service for eight or more years, the minimum value shall
not exceed the average of the used aircraft prices shown in columns
other than the "average new prices" column for used aircraft of the
oldest aircraft for that model and series in the Airliner Price Guide
most recently published as of the lien date. Minimum values shall
not be utilized for certificated aircraft of a model and series that
has been in revenue service for less than eight years.
(D) For out-of-production aircraft that were recommended to be
valued by a market approach for 1998 by the California Assessors'
Association, their assessments shall be based at the lower of the
following:
(i) The values established by the association for the 1998 lien
date.
(ii) The average of the used aircraft prices shown in the columns
other than the "average new prices" column for used aircraft of the
five oldest years for the aircraft model and series or that lesser
time for which data is available in the Airliner Price Guide.
(2) Notwithstanding paragraph (1), in computing assessed value,
the assessor may allow for extraordinary obsolescence if supported by
market evidence and the taxpayer may challenge the assessment for
failure to do so. To constitute market evidence of extraordinary
obsolescence and to permit an assessment appeal, the evidence must
show that the functional and or economic obsolescence is in excess of
10 percent of the value for the aircraft model and series otherwise
established pursuant to subparagraph (B), (C), or (D) of paragraph
(1).
(3) For purposes of paragraph (1), if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by the airlines and the taxing counties shall
be substituted.
(d) To calculate the values prescribed in subdivisions (b) and
(c), the taxpayer shall, to the extent that information is reasonably
available to the taxpayer, furnish the county assessor with an
annual property statement that includes the aircraft original costs
as defined in subparagraph (A) of paragraph (1) of subdivision (b) or
(c). If an air carrier that has this information reasonably
available to it fails to report original cost and additions, as
required by Sections 441 and 442, an assessor may make an appropriate
assessment pursuant to Section 501.
401.16. If, for purposes of property taxation, the county assessor
utilizes the reproduction or replacement cost approach to value to
determine the value of tangible personal property or trade fixtures,
both of the following apply:
(a) (1) If the county assessor depreciates this property using
percent good factors published by the State Board of Equalization
that provide separate factors for property that is first acquired new
and property that is first acquired used, the assessor may not
average the published factors to apply these factors to both classes
of new and used property.
(2) Notwithstanding paragraph (1), if information reported by a
taxpayer does not indicate whether this property was first acquired
by the taxpayer new or used, the assessor may average the published
factors.
(b) If the county assessor depreciates this property using percent
good factors that include a minimum percent good, the minimum
percent good factors shall be determined in a manner that is
supportable.
401.17. (a) For the 2005-06 fiscal year to the 2015-16 fiscal year,
inclusive, it shall be rebuttably presumed that the preallocated
fair market value of each make, model, and series of mainline jets,
production freighters, and regional aircraft that has attained situs
within this state is the lesser of the sum total of the amounts
determined under paragraph (1) or the sum total of the amounts
determined under paragraph (2). The value of an individual aircraft
assessed to the original owner of that aircraft shall not exceed its
original cost from the manufacturer. The preallocated fair market
value of an aircraft may be rebutted by evidence including, but not
limited to, appraisals, invoices, and expert testimony.
(1) (A) The original cost for the aircraft, which shall be
determined as follows and adjusted, as applicable, under
subparagraphs (B), (C), and (D):
(i) For owned and leased aircraft, the taxpayer's or lessor's
acquisition cost for that individual aircraft reported in accordance
with generally accepted accounting principles, and to the extent not
included in the acquisition cost, transportation costs and
capitalized interest and the cost of improvements made before a
transaction described in clause (ii). If the original cost for leased
aircraft cannot be determined from information reasonably available
to the taxpayer, original cost may be determined by reference to the
"average new prices" column of the Airliner Price Guide for that
model, series, and year of manufacture of aircraft. If information is
not available in the "average new prices" column for that model,
series, and year, the original cost may be determined using the best
indicator of original cost plus all conversion costs and improvement
costs incurred for that aircraft.
(ii) For sale/leaseback or assignment of purchase rights
transaction aircraft, the average of the taxpayer's cost established
pursuant to clause (i) and the cost established in a sale/leaseback
or assignment of purchase rights transaction for individual aircraft
that transfers the benefits and burdens of ownership to the lessor
for United States federal income tax purposes. In no event shall the
original cost for sale/leaseback aircraft be less than the taxpayer's
acquisition cost.
(iii) In the event of a merger, bankruptcy, or change in
accounting methods by the reporting airline, there shall be a
rebuttable presumption that the cost of the individual aircraft and
the acquisition date reported by the acquired company, if available,
or the cost reported prior to the change in accounting method, are
the original cost and the applicable acquisition date.
(B) (i) For mainline jets and production freighters, the original
cost described in subparagraph (A), plus the cost of any improvements
not otherwise included in the original cost, shall be adjusted from
the date of the acquisition of the aircraft to the lien date using
the monthly United States Department of Labor Producer Price Index
for aircraft and a 20-year straight-line percent-good table starting
from the delivery date of the aircraft to the current owner or, in
the case of a sale/leaseback or assignment of purchase rights
transaction, as described in this section, the current operator with
a minimum combined factor of 25 percent.
(ii) For regional aircraft, the original cost described in
subparagraph (A), plus the cost of any improvements not otherwise
included in the original cost, shall be adjusted from the date of the
acquisition of the aircraft to the lien date using the monthly
United States Department of Labor Producer Price Index for aircraft
and a 16-year straight-line percent-good table starting from the
delivery date of the aircraft to the current owner or, in the case of
a sale/leaseback or assignment of purchase rights transaction, as
described in this section, the current operator with a minimum
combined factor of 25 percent.
(iii) If original cost is determined by reference to the Airliner
Price Guide "average new prices" column, the adjustments required by
this paragraph shall be made by setting the acquisition date of the
aircraft to be the date of the aircraft's manufacture.
(C) (i) For mainline jets and regional aircraft, the assessor
shall analyze the adjusted original cost derived pursuant to
subparagraph (B), for application of an economic obsolescence
allowance which shall be determined as follows:
(I) For the applicable year, the assessor shall calculate the
average annual net revenue per available seat mile, the net load
factor, and the yield utilizing the Airline Quarterly Financial
Review published by the United States Department of Transportation,
and referring to the section descriptive of the passenger airline
industry, entitled "System Operations, System Pax. Majors" for the
calendar year ending December 31 immediately preceding the applicable
assessment date.
(II) For a 10-year benchmark, the assessor shall calculate as of
December 31 for each of the 10 calendar years preceding the
applicable year, the average annual net revenue per available seat
mile, the net load factor, and the yield utilizing the Airline
Quarterly Financial Review published by the United States Department
of Transportation, and referring to the section descriptive of the
passenger airline industry, entitled "System Operations, System Pax.
Majors" for the calendar year ending December 31 immediately
preceding the applicable assessment date.
(ii) (I) The assessor shall compare each factor calculated under
subclause (I) of clause (i) with the corresponding factor calculated
under subclause (II) of clause (i) to derive the percentage that each
of the factors calculated under subclause (I) of clause (i) deviated
from the 10-year benchmark calculated under subclause (II) of clause
(i). The assessor shall then calculate a weighted average of the
indicated percentage adjustments, weighted as follows:
(aa) Net revenue per available seat mile shall be weighted 35
percent.
(ab) Net load factor shall be weighted 35 percent.
(ac) Yield shall be weighted 30 percent.
(II) The assessor shall reduce the adjusted original costs derived
under subparagraph (B) by the percentage adjustment calculated in
subclause (I), but only if the final economic obsolescence determined
under that subclause exceeds 10 percent, otherwise no economic
obsolescence allowance shall be provided.
(D) (i) For production freighters, the assessor shall analyze the
adjusted original cost derived under subparagraph (B), for
application of an economic obsolescence allowance, as follows:
(I) For the applicable year, the assessor shall calculate the
industry average of net revenue per available ton mile and the ton
load factor based upon the Airline Quarterly Financial Review
published by the United States Department of Transportation, and
referring to the section descriptive of the cargo airline industry,
entitled "System Operations, System Cargo Majors" for the calendar
year ending December 31 preceding the relevant assessment date.
(II) For a 10-year benchmark, the assessor shall calculate as of
December 31 for each of the 10 calendar years preceding the
applicable year, the net revenue per available ton mile and the ton
load factor utilizing the Airline Quarterly Financial Review
published by the United States Department of Transportation and
referring to the section descriptive of the cargo airline industry,
entitled "System Operations, System Cargo Majors" as of December 31
for each of the 10 calendar years preceding the calendar year
utilized for the subject year, for the calendar year ending December
31 immediately preceding the applicable assessment date.
(ii) (I) The assessor shall compare each factor calculated under
subclause (I) of clause (i) with the corresponding factor calculated
under subclause (II) of clause (i) to derive the percentage that each
of the factors calculated under subclause (I) of clause (i) deviated
from the 10-year benchmark calculated under subclause (II) of clause
(i). The assessor shall then calculate a weighted average of the
indicated percentage adjustments so that the net revenue per
available ton mile is weighted 50 percent and the ton load factor is
weighted 50 percent.
(II) The assessor shall reduce the adjusted original costs derived
under subparagraph (B) by the percentage adjustment calculated in
subclause (I), but only if the final economic obsolescence determined
under that subclause exceeds 10 percent, otherwise no economic
obsolescence allowance shall be provided.
(2) (A) Except as otherwise provided in subparagraph (B), for each
individual mainline jet, production freighter, or regional aircraft,
the assessor shall identify the value referenced in the "Used Price
of Avg. Acft. Wholesale" column of the Winter edition of the Airliner
Price Guide by make, model, series, and year of manufacture, and
deduct 10 percent from that value for a fleet discount.
(B) For each individual mainline jet, production freighter, or
regional aircraft that is less than two years old and for which the
Airliner Price Guide does not list used wholesale values, the
original cost determined under paragraph (1) of subparagraph (A)
shall be decreased by the lesser of 5 percent or one-half of the
percentage decrease between original cost and 90 percent of the value
listed in the "Used Price of Avg. Acft. Wholesale" column of the
Winter edition of the Airliner Price Guide for a two-year-old
aircraft of that same make, model, and series.
(b) For the 2005-06 fiscal year to the 2015-16 fiscal year,
inclusive, it shall be rebuttably presumed that the preallocated fair
market value for each make, model, and series of converted
freighters that has attained situs within this state is the amount
that is determined as follows:
(1) (A) The assessor shall begin his or her appraisal of a
converted freighter as of the relevant lien date by identifying the
aircraft's original cost as a passenger aircraft prior to conversion.
The aircraft's original cost as a converted freighter shall be the
lesser of:
(i) Its trended original cost as a passenger aircraft prior to
conversion, less a downward adjustment of 10 percent to reflect
tear-outs.
(ii) Its value described in the Winter edition of the Airliner
Price Guide in the "Used Price of Avg. Acft. Wholesale" column in
passenger configuration, less a downward adjustment of 10 percent to
reflect tear-outs.
(B) The amount determined under subparagraph (A) shall be adjusted
according to the following:
(i) If, on the relevant lien date, the frame of the aircraft is 15
years old or more, 50 percent of the cost to convert the aircraft to
a freighter shall be added to the value determined under
subparagraph (A).
(ii) If, on the relevant lien date, the frame of the aircraft is
less than 15 years old, 75 percent of the cost to convert the
aircraft to a freighter shall be added to the value determined under
subparagraph (A).
(iii) In addition, all other improvements, including capitalized
interest, to the aircraft that are not otherwise included in the
aircraft's original and conversion costs shall be added at full
value.
(2) The amount determined under paragraph (1) shall be adjusted
from the date of the conversion of the aircraft to the lien date
using the monthly United States Department of Labor Producer Price
Index for aircraft and a 16-year straight-line percent-good table,
however, the percent-good applied to the aircraft shall in no event
be less than 15 percent.
(3) If the Airliner Price Guide "Used Price of Avg. Acft.
Wholesale" is utilized under paragraph (1), only the improvements and
adjusted conversion costs pertaining to the converted freighter
shall be adjusted from the date of the conversion of the aircraft to
the relevant lien date using the monthly United States Department of
Labor Producer Price Index for aircraft and a 16-year straight-line
percent-good table. In no event, however, shall the percent-good
applied to the improvements and adjusted conversion costs be less
than 15 percent.
(4) (A) Except as otherwise provided in subparagraph (B), the
assessor shall reduce the adjusted original cost, plus improvements,
and adjusted conversion costs, derived under paragraphs (1) to (3),
inclusive, by the obsolescence percentage adjustment calculated for
production freighters under subparagraph (D) of paragraph (1) of
subdivision (a).
(B) If the Airliner Price Guide "Used Price of Avg. Acft.
Wholesale" is utilized under paragraph (1), only the improvements and
adjusted conversion costs pertaining to the converted freighter
shall be reduced by the obsolescence percentage adjustment described
in subparagraph (A).
(c) For purposes of this section, if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by commercial air carriers and the counties
in which certificated aircraft have situs shall be substituted. If
these parties do not agree on a guide or adjustment, the State Board
of Equalization shall determine the guide or adjustment.
(d) The taxpayer shall, to the extent that information is
reasonably available to the taxpayer, furnish the county assessor
with an annual property statement that includes the aircraft original
costs as defined in subparagraph (A) of paragraph (1) of subdivision
(a). If an air carrier that has this information reasonably
available to it fails to report original cost and improvements, as
required by Sections 441 and 442, an assessor may in that case make
an appropriate assessment pursuant to Section 501.
(e) For purposes of this section, all of the following apply:
(1) "Converted freighter" means a certificated aircraft, as
defined in Section 1150, that, following its original manufacture,
was used for passenger transportation, but was later converted to be
used primarily for cargo transportation purposes.
(2) "Mainline jet" means a certificated aircraft, as defined in
Section 1150, that is either of the following:
(A) Manufactured by Boeing, Airbus, or McDonnell Douglas.
(B) Capable of being configured with approximately 100 seats or
more.
(3) "Production Freighter" means a certificated aircraft, as
defined in Section 1150, that immediately following its manufacture
is deployed primarily for cargo transportation purposes.
(4) "Regional aircraft" means a certificated aircraft, as defined
in Section 1150, that is either of the following:
(A) Manufactured by ATR (Avions De Transport Regional), Beech,
British Aerospace Jetstream, Canadair Regional Jet, Cessna,
DeHaviland, Embraer, Fairchild, or Saab.
(B) Generally configured with fewer than 100 seats.
(5) "Improvements" means the cost of any modifications or capital
additions that materially add to the value of or substantially
prolong the useful life of the aircraft, or make it adaptable to a
different use. "Improvements" include modification costs incurred
during a heavy maintenance visit to the extent that they materially
add to the value of or substantially prolong the useful life of the
aircraft. "Improvements" do not include repair and maintenance costs
incurred for the purpose of keeping the aircraft in an ordinarily
efficient operating condition.
(6) "Net revenue per available seat mile" means operating revenue
per available seat mile less cost per available seat mile as
determined by the United States Department of Transportation.
(7) "Net load factor" means actual passenger load factor less
break-even passenger load factor, as determined by the United States
Department of Transportation.
(8) "Net revenue per available ton mile" means operating revenue
per ton mile less cost per available ton mile as determined by the
United States Department of Transportation.
(9) "Yield" means average revenue per revenue passenger mile as
determined by the United States Department of Transportation.
(10) "Ton Load Factor" means that percentage of effective use of
cargo capacity as determined by the United States Department of
Transportation.
(f) The amendments made by the act adding this subdivision shall
apply with respect to lien dates occurring on and after January 1,
2011.
401.20. (a) (1) The State Board of Equalization shall, in
consultation with the California Assessors' Association and
representatives of the computer, semiconductor, and biopharmaceutical
industries, conduct a study to obtain and analyze data in order to
update the information used to develop the valuation factors annually
published by the State Board of Equalization that are applied to
nonproduction computers, semiconductor manufacturing equipment, and
biopharmaceutical industry equipment and fixtures.
(2) The State Board of Equalization shall conduct the study
described in paragraph (1) only if funds are appropriated by the
Legislature to the board for that purpose during the 2005-06 Regular
Session.
(3) To the extent the State Board of Equalization periodically
conducts these studies, the board shall publish revised valuation
factors based on the updated information. If the board reviews the
data and determines that an update is not warranted, the existing
factors shall remain in effect.
(b) (1) Notwithstanding any other provision of law relating to the
determination of the values for property tax assessment, values
determined by using valuation factors resulting from the study
described in subdivision (a), as instructed by the State Board of
Equalization for nonproduction computers, semiconductor manufacturing
equipment, and biopharmaceutical industry equipment and fixtures,
shall be rebuttably presumed to be the full cash value.
(2) The assessor or the taxpayer shall have the right to present
evidence supporting values different from those based on the
published factors in order to attempt to overcome the presumption.
(c) The presumption in subdivision (b) shall not apply to any
particular tax year if the information upon which the valuation
factors for that category of property are based was last reviewed by
the State Board of Equalization more than six years before the lien
date for that tax year.
402. Cultivated and uncultivated land of the same quality and
similarly situated shall be assessed at the same value.
402.1. (a) In the assessment of land, the assessor shall consider
the effect upon value of any enforceable restrictions to which the
use of the land may be subjected. These restrictions shall include,
but are not limited to, all of the following:
(1) Zoning.
(2) Recorded contracts with governmental agencies other than those
provided in Sections 422 and 422.5.
(3) Permit authority of, and permits issued by, governmental
agencies exercising land use powers concurrently with local
governments, including the California Coastal Commission and regional
coastal commissions, the San Francisco Bay Conservation and
Development Commission, and the Tahoe Regional Planning Agency.
(4) Development controls of a local government in accordance with
any local coastal program certified pursuant to Division 20
(commencing with Section 30000) of the Public Resources Code.
(5) Development controls of a local government in accordance with
a local protection program, or any component thereof, certified
pursuant to Division 19 (commencing with Section 29000) of the Public
Resources Code.
(6) Environmental constraints applied to the use of land pursuant
to provisions of statutes.
(7) Hazardous waste land use restriction pursuant to Section 25240
of the Health and Safety Code.
(8) A recorded conservation, trail, or scenic easement, as
described in Section 815.1 of the Civil Code, that is granted in
favor of a public agency, or in favor of a nonprofit corporation
organized pursuant to Section 501(c)(3) of the Internal Revenue Code
that has as its primary purpose the preservation, protection, or
enhancement of land in its natural, scenic, historical, agricultural,
forested, or open-space condition or use.
(b) There is a rebuttable presumption that restrictions will not
be removed or substantially modified in the predictable future and
that they will substantially equate the value of the land to the
value attributable to the legally permissible use or uses.
(c) Grounds for rebutting the presumption may include, but are not
necessarily limited to, the past history of like use restrictions in
the jurisdiction in question and the similarity of sales prices for
restricted and unrestricted land. The possible expiration of a
restriction at a time certain shall not be conclusive evidence of the
future removal or modification of the restriction unless there is no
opportunity or likelihood of the continuation or renewal of the
restriction, or unless a necessary party to the restriction has
indicated an intent to permit its expiration at that time.
(d) In assessing land with respect to which the presumption is
unrebutted, the assessor shall not consider sales of otherwise
comparable land not similarly restricted as to use as indicative of
value of land under restriction, unless the restrictions have a
demonstrably minimal effect upon value.
(e) In assessing land under an enforceable use restriction wherein
the presumption of no predictable removal or substantial
modification of the restriction has been rebutted, but where the
restriction nevertheless retains some future life and has some effect
on present value, the assessor may consider, in addition to all
other legally permissible information, representative sales of
comparable lands that are not under restriction but upon which
natural limitations have substantially the same effect as
restrictions.
(f) For the purposes of this section the following definitions
apply:
(1) "Comparable lands" are lands that are similar to the land
being valued in respect to legally permissible uses and physical
attributes.
(2) "Representative sales information" is information from sales
of a sufficient number of comparable lands to give an accurate
indication of the full cash value of the land being valued.
(g) It is hereby declared that the purpose and intent of the
Legislature in enacting this section is to provide for a method of
determining whether a sufficient amount of representative sales
information is available for land under use restriction in order to
ensure the accurate assessment of that land. It is also hereby
declared that the further purpose and intent of the Legislature in
enacting this section and Section 1630 is to avoid an assessment
policy which, in the absence of special circumstances, considers uses
for land that legally are not available to the owner and not
contemplated by government, and that these sections are necessary to
implement the public policy of encouraging and maintaining effective
land use planning. Nothing in this statute shall be construed as
requiring the assessment of any land at a value less than as required
by Section 401 or as prohibiting the use of representative
comparable sales information on land under similar restrictions when
this information is available.
402.3. An assessor shall consider any restrictive covenant,
easement, restriction, or servitude adopted pursuant to Section
25202.5, 25222.1, or 25355.5 of the Health and Safety Code or any
restriction, easement, covenant, or servitude imposed pursuant to
Section 25230 of the Health and Safety Code as an enforceable
restriction, easement, covenant, or servitude subject to Section
402.1 and shall appropriately reassess any land, the use of which has
been so restricted, at the lien date following the adoption or
imposition of the covenant, easement, servitude, or restriction.
402.5. When valuing property by comparison with sales of other
properties, in order to be considered comparable, the sales shall be
sufficiently near in time to the valuation date, and the properties
sold shall be located sufficiently near the property being valued,
and shall be sufficiently alike in respect to character, size,
situation, usability, zoning or other legal restriction as to use
unless rebutted pursuant to Section 402.1, to make it clear that the
properties sold and the properties being valued are comparable in
value and that the cash equivalent price realized for the properties
sold may fairly be considered as shedding light on the value of the
property being valued. "Near in time to the valuation date" does not
include any sale more than 90 days after the lien date.
402.9. In valuing property for persons of low and moderate income
that is financed under Section 236 or Section 515 of the federal
National Housing Act, since federal restrictions accompanying these
programs substantially affect actual income and expenses of the
property owner, the assessor shall not consider as income any
interest subsidy payments made to a lender on that property by the
federal government.
402.95. In valuing property under the income method of appraisal,
the assessor shall exclude from income the benefit from federal and
state low-income housing tax credits allocated by the California Tax
Credit Allocation Committee pursuant to Section 42 of the Internal
Revenue Code and Sections 12206, 17058, and 23610.5.
403. Land sold by the State for which no patent has been issued
shall be assessed like other land, but the owner is entitled to a
deduction from the assessed valuation of the amount due the State as
principal on the purchase price.
404. All taxable property, except State assessed property, shall be
assessed by the assessing agency of the taxing agency where the
property is situated.
405. (a) Annually, the assessor shall assess all the taxable
property in his county, except state-assessed property, to the
persons owning, claiming, possessing, or controlling it on the lien
date.
The assessor may assess the property on the secured roll to the
person owning, claiming, possessing or controlling it for the ensuing
fiscal year.
(b) The assessor may assess all taxable property in his county on
the unsecured roll jointly to both the lessee and lessor of such
property.
(c) Notices of assessment and tax bills relating to jointly
assessed property on the unsecured roll shall be mailed to both the
lessee and the lessor at their latest addresses known to the
assessor.
405.5. The assessor shall periodically appraise all property not
subject to the provisions of Article XIII A of the Constitution to
substantiate the judgment of its full cash value or, when provided
for by law, its restricted value for uniform assessment purposes.
407. Annually, on the second Monday in July, the assessor shall
transmit a statistical statement to the board, supplying any
statistical information which the board may require, and shall supply
from time to time any other information required by the board.
408. (a) Except as otherwise provided in subdivisions (b), (c),
(d), and (e), any information and records in the assessor's office
that are not required by law to be kept or prepared by the assessor,
disabled veterans' exemption claims, and homeowners' exemption
claims, are not public documents and shall not be open to public
inspection. Property receiving the homeowners' exemption shall be
clearly identified on the assessment roll. The assessor shall
maintain records which shall be open to public inspection to identify
those claimants who have been granted the homeowners' exemption.
(b) The assessor may provide any appraisal data in his or her
possession to the assessor of any county.
The assessor shall disclose information, furnish abstracts, or
permit access to all records in his or her office to law enforcement
agencies, the county grand jury, the board of supervisors or their
duly authorized agents, employees, or representatives when conducting
an investigation of the assessor's office pursuant to Section 25303
of the Government Code, the county recorder when conducting an
investigation to determine whether a documentary transfer tax is
imposed, the Controller, employees of the Controller for property tax
postponement purposes, probate referees, employees of the Franchise
Tax Board for tax administration purposes only, staff appraisers of
the Department of Financial Institutions, the Department of
Transportation, the Department of General Services, the State Board
of Equalization, the State Lands Commission, the State Department of
Social Services, the Department of Child Support Services, the
Department of Water Resources, and other duly authorized legislative
or administrative bodies of the state pursuant to their authorization
to examine the records. Whenever the assessor discloses information,
furnishes abstracts, or permits access to records in his or her
office to staff appraisers of the Department of Financial
Institutions, the Department of Transportation, the Department of
General Services, the State Lands Commission, or the Department of
Water Resources pursuant to this section, the department shall
reimburse the assessor for any costs incurred as a result thereof.
(c) Upon the request of the tax collector, the assessor shall
disclose and provide to the tax collector information used in the
preparation of that portion of the unsecured roll for which the taxes
thereon are delinquent. The tax collector shall certify to the
assessor that he or she needs the information requested for the
enforcement of the tax lien in collecting those delinquent taxes.
Information requested by the tax collector may include social
security numbers, and the assessor shall recover from the tax
collector his or her actual and reasonable costs for providing the
information. The tax collector shall add the costs described in the
preceding sentence to the assessee's delinquent tax lien and collect
those costs subject to subdivision (e) of Section 2922.
(d) The assessor shall, upon the request of an assessee or his or
her designated representative, permit the assessee or representative
to inspect or copy any market data in the assessor's possession. For
purposes of this subdivision, "market data" means any information in
the assessor's possession, whether or not required to be prepared or
kept by him or her, relating to the sale of any property comparable
to the property of the assessee, if the assessor bases his or her
assessment of the assessee's property, in whole or in part, on that
comparable sale or sales. The assessor shall provide the names of the
seller and buyer of each property on which the comparison is based,
the location of that property, the date of the sale, and the
consideration paid for the property, whether paid in money or
otherwise. However, for purposes of providing market data, the
assessor may not display any document relating to the business
affairs or property of another.
(e) (1) With respect to information, documents, and records, other
than market data as defined in subdivision (d), the assessor shall,
upon request of an assessee of property, or his or her designated
representative, permit the assessee or representative to inspect or
copy all information, documents, and records, including auditors'
narrations and workpapers, whether or not required to be kept or
prepared by the assessor, relating to the appraisal and the
assessment of the assessee's property, and any penalties and interest
thereon.
(2) After enrolling an assessment, the assessor shall respond to a
written request for information supporting the assessment,
including, but not limited to, any appraisal and other data requested
by the assessee.
(3) Except as provided in Section 408.1, an assessee, or his or
her designated representative, may not be permitted to inspect or
copy information and records that also relate to the property or
business affairs of another, unless that disclosure is ordered by a
competent court in a proceeding initiated by a taxpayer seeking to
challenge the legality of the assessment of his or her property.
(f) (1) Permission for the inspection or copying requested
pursuant to subdivision (d) or (e) shall be granted as soon as
reasonably possible to the assessee or his or her designated
representative.
(2) If the assessee, or his or her designated representative,
requests the assessor to make copies of any of the requested records,
the assessee shall reimburse the assessor for the reasonable costs
incurred in reproducing and providing the copies.
(3) If the assessor fails to permit the inspection or copying of
materials or information as requested pursuant to subdivision (d) or
(e) and the assessor introduces any requested materials or
information at any assessment appeals board hearing, the assessee or
his or her representative may request and shall be granted a
continuance for a reasonable period of time. The continuance shall
extend the two-year period specified in subdivision (c) of Section
1604 for a period of time equal to the period of continuance.
408.1. (a) The assessor shall maintain a list of transfers of any
interest in property, other than undivided interests, within the
county, which have occurred within the preceding two-year period.
(b) The list shall be divided into geographical areas and shall be
revised on the 30th day of each calendar quarter to include all such
transactions which are recorded as of the preceding quarter.
(c) The list shall contain the following information:
(1) Transferor and transferee, if available;
(2) Assessor's parcel number;
(3) Address of the sales property;
(4) Date of transfer;
(5) Date of recording and recording reference number;
(6) Where it is known by the assessor, the consideration paid for
such property; and
(7) Additional information which the assessor in his discretion
may wish to add to carry out the purpose and intent of this section.
Other than sales information, the assessor shall not include
information on the list which relates to the business or business
affairs of the owner of the property, information concerning the
business carried on upon the subject property, or the income or
income stream generated by the property.
(d) The list shall be open to inspection by any person. The
assessor may require the payment of a nonrefundable fee equal to an
amount which would reimburse local agencies for their actual
administrative costs incurred in such inspections or ten dollars
($10), whichever is the lesser amount.
(e) The provisions of this section shall not apply to any county
with a population of under 50,000 people, as determined by the 1970
federal decennial census.
(f) Pursuant to Section 481, the assessor shall not include
information on the list which was furnished in the change in
ownership statement by the transferee and is not otherwise public
information.
408.2. (a) Except as otherwise provided in Sections 63.1, 69.5,
451, and 481 of this code and in Section 6254 of the Government Code,
any information and records in the assessor's office which are
required by law to be kept or prepared by the assessor, other than
homeowners' exemption claims, are public records and shall be open to
public inspection. Property receiving the homeowners' exemption
shall be clearly identified on the assessment roll. The assessor
shall maintain records which shall be open to public inspection to
identify those claimants who have been granted the homeowners'
exemption.
(b) The assessor may provide any appraisal data in his or her
possession to the assessor of any county and shall provide any market
data in his or her possession to an assessee of property or his or
her designated representative upon request. The assessor shall permit
an assessee of property or his or her designated representative to
inspect at the assessor's office any information and records, whether
or not required to be kept or prepared by the assessor, relating to
the appraisal and the assessment of his or her property. Except as
provided in Section 408.1, an assessee or his or her designated
representative, however, shall not be provided or permitted to
inspect information and records, other than market data, which also
relate to the property or business affairs of another person, unless
that disclosure is ordered by a competent court in a proceeding
initiated by a taxpayer seeking to challenge the legality of his or
her assessment.
(c) The assessor shall disclose information, furnish abstracts, or
permit access to all records in his or her office to law enforcement
agencies, the county grand jury, the board of supervisors or their
duly authorized agents, employees or representatives when conducting
an investigation of the assessor's office pursuant to Section 25303
of the Government Code, the Controller, probate referees, employees
of the Franchise Tax Board for tax administration purposes only, the
State Board of Equalization, and other duly authorized legislative or
administrative bodies of the state pursuant to their authorization
to examine the records.
(d) For purposes of this section, "market data" means any
information in the assessor's possession, whether or not required to
be prepared or kept by him or her, relating to the sale of any
property comparable to the property of the assessee, if the assessor
bases his or her assessment of the assessee's property, in whole or
in part, on that comparable sale or sales. The assessor shall provide
the names of the seller and buyer of each property on which the
comparison is based, the location of that property, the date of the
sale, and the consideration paid for the property, whether paid in
money or otherwise, but for purposes of providing market data, the
assessor shall not display any document relating to the business
affairs or property of another.
(e) This section applies only to a county with a population that
exceeds 4,000,000.
408.3. (a) Except as otherwise provided in Sections 451 and 481 and
in Section 6254 of the Government Code, property characteristics
information maintained by the assessor is a public record and shall
be open to public inspection.
(b) For purposes of this section, "property characteristics,"
includes, but is not limited to, the year of construction of
improvements to the property, their square footage, the number of
bedrooms and bathrooms of all dwellings, the property's acreage, and
other attributes of or amenities to the property, such as swimming
pools, views, zoning classifications or restrictions, use code
designations, and the number of dwelling units of multiple family
properties.
(c) Notwithstanding Section 6257 of the Government Code or any
other provision of law, if the assessor provides property
characteristics information at the request of any party, the assessor
may require that a fee reasonably related to the actual cost of
developing and providing the information be paid by the party
receiving the information.
The actual cost of providing the information is not limited to
duplication or production
401. Every assessor shall assess all property subject to general
property taxation at its full value.
401.3. The assessor shall assess all property subject to general
property taxation on the lien date as provided in Articles XIII and
XIII A of the Constitution and any legislative authorization
thereunder.
401.4. When valuing an owner-occupied single-family dwelling and
the land on which it is situated that may be required for the
convenient occupation and use of such dwelling, if such dwelling is
on land which is zoned exclusively for single-family home use or
which is zoned for agricultural use where single-family homes are
permitted, the assessor shall not value the land at any value greater
than that which would reflect the use of the land as a site for a
single-family dwelling.
As used in this section, owner-occupied single-family dwelling
means any single-family dwelling occupied by an owner thereof as his
principal place of residence on the lien date.
401.5. The board shall issue to assessors data relating to costs of
property, or, with respect to commercial and industrial property,
shall, after a public hearing, review and approve commercially
available data, and shall issue to assessors other information as in
the judgment of the board will promote uniformity in appraisal
practices and in assessed values throughout the state. An assessor
shall adapt data received pursuant to this section to local
conditions and may consider that data together with other factors as
required by law in the assessment of property for tax purposes.
401.6. (a) In any case in which the cost approach method is used to
value special use property for purposes of taxation, the assessor
shall not add a component for entrepreneurial profit unless he or she
has market-derived evidence that entrepreneurial profit exists and
has not been fully offset by physical deterioration or economic
obsolescence.
(b) For purposes of this section:
(1) "Entrepreneurial profit" means either of the following:
(A) The amount a developer would expect to recover with respect to
a property in excess of the amount of the developer's costs incurred
with respect to that property.
(B) The difference between the fair market value of a property and
the total costs incurred with respect to that property.
(2) "Total costs" means both direct costs of construction,
including, but not limited to, the costs of land, building materials,
and labor, and indirect costs of construction, including, but not
limited to, the costs of construction capital and permit fees.
(3) "Special use property" means a limited market property with a
unique physical design, special construction materials, or a layout
that restricts its utility to the use for which it was built.
401.8. (a) Notwithstanding any other provision of law, commencing
with the 1995-96 fiscal year, the county assessor shall determine the
property tax assessed value in the county attributable to assessable
intercounty pipeline rights-of-way on the basis of a single,
countywide parcel per taxpayer by combining the assessed values of
each separate right-of-way interest, or segment thereof, of the
taxpayer in the county. However, the assessor shall maintain a
separate base year value as determined pursuant to Section 110.1 for
each separate right-of-way interest, or segment thereof.
(b) Any assessment appeal that is authorized to be filed in
Sections 401.10 to 401.12, inclusive, with respect to an intercounty
pipeline right-of-way interest, or segment thereof, for which the
assessor did not assign a value in the manner specified in
subdivision (a) of Section 401.10, shall be filed by the taxpayer
upon one or more specified intercounty pipeline right-of-way
interests, or segments thereof, as described in subdivision (a), and
in no event shall be filed with respect to a taxpayer's entire,
undivided intercounty pipeline right-of-way. The assessor shall
maintain for five calendar years those records for each assessment
year that identify each intercounty pipeline right-of-way interest,
or segment thereof, located within his or her county, and shall
provide the information in those records with respect to a given
intercounty pipeline right-of-way interest, or segment thereof, to
the taxpayer upon request.
401.10. (a) Notwithstanding any other provision of law relating to
the determination of the values upon which property taxes are based,
values for each tax year from the 1984-85 tax year to the 2015-16 tax
year, inclusive, for intercounty pipeline rights-of-way on publicly
or privately owned property, including those rights-of-way that are
the subject of a change in ownership, new construction, or any other
reappraisable event during the period from March 1, 1975, to June 30,
2016, inclusive, shall be rebuttably presumed to be at full cash
value for that year, if all of the following conditions are met:
(1) (A) The full cash value is determined to equal a 1975-76 base
year value, annually adjusted for inflation in accordance with
subdivision (b) of Section 2 of Article XIII A of the California
Constitution, and the 1975-76 base year value was determined in
accordance with the following schedule:
(i) Twenty thousand dollars ($20,000) per mile for a high density
property.
(ii) Twelve thousand dollars ($12,000) per mile for a transitional
density property.
(iii) Nine thousand dollars ($9,000) per mile for a low density
property.
(B) For purposes of this section, the density classifications
described in subparagraph (A) are defined as follows:
(i) "High density" means Category 1 (densely urban) as established
by the State Board of Equalization.
(ii) "Transitional density" means Category 2 (urban) as
established by the State Board of Equalization.
(iii) "Low density" means Category 3 (valley-agricultural),
Category 4 (grazing), and Category 5 (mountain and desert) as
established by the State Board of Equalization.
(2) The full cash value is determined utilizing the same property
density classifications that were assigned to the property by the
State Board of Equalization for the 1984-85 tax year or, if density
classifications were not so assigned to the property for the 1984-85
tax year, the density classifications that were first assigned to the
property by the board for a subsequent tax year.
(3) (A) If a taxpayer owns multiple pipelines in the same
right-of-way, an additional 50 percent of the value attributed to the
right-of-way for the presence of the first pipeline, as determined
under paragraphs (1) and (2), shall be added for the presence of each
additional pipeline up to a maximum of two additional pipelines. For
any particular taxpayer, the total valuation for a multiple pipeline
right-of-way shall not exceed 200 percent of the value determined
for the right-of-way of the first pipeline in the right-of-way in
accordance with paragraphs (1) and (2).
(B) If the State Board of Equalization has determined that an
intercounty pipeline, located within a multiple pipeline right-of-way
previously valued in accordance with subparagraph (A), has been
abandoned as a result of physical removal or blockage, the assessed
value of the right-of-way attributable to the last pipeline enrolled
in accordance with subparagraph (A) shall be reduced by not less than
75 percent of that increase in assessed value that resulted from the
application of subparagraph (A).
(4) If all pipelines of a taxpayer located within the same
pipeline right-of-way, previously valued in accordance with this
section, are determined by the State Board of Equalization to have
been abandoned as the result of physical removal or blockage, the
assessed value of that right-of-way to that taxpayer shall be
determined to be no more than 25 percent of the assessed value
otherwise determined for the right-of-way for a single pipeline of
that taxpayer pursuant to paragraphs (1) and (2).
(b) If the assessor assigns values for any tax year from the
1984-85 tax year to the 2015-16 tax year, inclusive, in accordance
with the methodology specified in subdivision (a), the taxpayer's
right to assert any challenge to the right to assess that property,
whether in an administrative or judicial proceeding, shall be deemed
to have been raised and resolved for that tax year and the values
determined in accordance with that methodology shall be rebuttably
presumed to be correct. If the assessor assigns values for any tax
year from the 1984-85 tax year to the 2015-16 tax year, inclusive, in
accordance with the methodology specified in subdivision (a), any
pending taxpayer lawsuit that challenges the right to assess the
property shall be dismissed by the taxpayer with prejudice as it
applies to intercounty pipeline rights-of-way.
(c) Notwithstanding any change in ownership, new construction, or
decline in value occurring after March 1, 1975, if the assessor
assigns values for rights-of-way for any tax year from the 1984-85
tax year to the 2015-16 tax year, inclusive, in accordance with the
methodology specified in subdivision (a), the taxpayer may not
challenge the right to assess that property and the values determined
in accordance with that methodology shall be rebuttably presumed to
be correct for that property for that tax year.
(d) Notwithstanding any change in ownership, new construction, or
decline in value occurring after March 1, 1975, if the assessor does
not assign values for rights-of-way for any tax year from the 1984-85
tax year to the 2015-16 tax year, inclusive, at the 1975-76 base
year values specified in subdivision (a), any assessed value that is
determined on the basis of valuation standards that differ, in whole
or in part, from those valuation standards set forth in subdivision
(a) shall not benefit from any presumption of correctness, and the
taxpayer may challenge the right to assess that property or the
values for that property for that tax year. As used herein, a
challenge to the right to assess shall include any assessment appeal,
claim for refund, or lawsuit asserting any right, remedy, or cause
of action relating to or arising from, but not limited to, the
following or similar contentions:
(1) That the value of the right-of-way is included in the value of
the underlying fee or railroad right-of-way.
(2) That assessment of the value of the right-of-way to the owner
of the pipeline would result in double assessment.
(3) That the value of the right-of-way may not be assessed to the
owner of the pipeline separately from the assessment of the value of
the underlying fee.
(e) Notwithstanding any other provision of law, during a four-year
period commencing on January 1, 1996, the assessor may issue an
escape assessment in accordance with the specific valuation standards
set forth in subdivision (a) for the following taxpayers and tax
years:
(1) Any intercounty pipeline right-of-way taxpayer who was a
plaintiff in Southern Pacific Pipe Lines, Inc. v. State Board of
Equalization (1993) 14 Cal. App. 4th 42, for the tax years 1984-85 to
1996-97, inclusive.
(2) Any intercounty pipeline right-of-way taxpayer who was not a
plaintiff in Southern Pacific Pipe Lines, Inc. v. State Board of
Equalization (1993) 14 Cal. App. 4th 42, for the tax years 1989-90 to
1996-97, inclusive.
(f) Any escape assessment levied under subdivision (e) shall not
be subject to penalties or interest under the provisions of Section
532. If payment of any taxes due under this section is made within 45
days of demand by the tax collector for payment, the county shall
not impose any late payment penalty or interest. Taxes not paid
within 45 days of demand by the tax collector shall become delinquent
at that time, and the delinquent penalty, redemption penalty, or
other collection provisions of this code shall thereafter apply.
(g) For purposes of this section, "intercounty pipeline
right-of-way" means, except as otherwise provided in this
subdivision, any interest in publicly or privately owned real
property through which or over which an intercounty pipeline is
placed. However, "intercounty pipeline right-of-way" does not include
any parcel or facility that the State Board of Equalization
originally separately assessed using a valuation method other than
the multiplication of pipeline length within a subject property by a
unit value determined in accordance with the density category of that
subject property.
(h) This section shall remain in effect only until January 1,
2016, and, as of that date is repealed, unless a later enacted
statute, that is enacted before January 1, 2016, deletes or extends
that date.
401.12. Sections 401.10 and 401.11 do not abrogate, rescind,
preclude, or otherwise affect any separate settlement agreement
entered into prior to the effective date of those sections between a
county and an intercounty pipeline right-of-way taxpayer concerning
the subject matter of Sections 401.10 and 401.11. In the event of a
conflict between any settlement agreement and the provisions of
Sections 401.10 and 401.11, the settlement agreement shall control.
401.13. Notwithstanding any other provision of law, on or after
January 1, 1998, the assessor shall determine the assessed value of
pipelines and related rights-of-way that are located wholly within
the county on the basis of a single, countywide parcel per taxpayer,
and, to that end, shall combine the assessed value of each component
or segment of those pipelines or rights-of-way. However, the assessor
shall maintain a separate base year value for each of these
components or segments.
401.15. (a) Notwithstanding any other provision of law, for any
county that makes available the credits provided for in Section
5096.3, the full cash values of certificated aircraft for fiscal
years to the 1997-98 fiscal year, inclusive, are presumed to be those
values enrolled by the county assessor or, in the case of timely
escape assessments upon certificated aircraft issued on or after
April 1, 1998, pursuant to Sections 531, 531.3, and 531.4, the values
enrolled upon those escape assessments, provided that the escape
assessment is made in accordance with the methodology in subdivision
(b). For escape assessments for fiscal years to the 1997-98 fiscal
year, inclusive, the assessor shall use the methodology and minimum
and market values set by the California Assessors' Association for
the applicable fiscal year in lieu of the methodology set forth in
subparagraph (C) or (D) of paragraph (1) of subdivision (b). The
assessor is not required to revise or change existing enrolled
assessments that are not subject to escape assessment to reflect the
methodology in this section. Nothing in this section precludes audit
adjustments and offsets as set forth in Section 469 or the correction
of reporting errors raised by an airline. Nothing in this section
affects any presumption of correctness concerning allocation of
aircraft values.
(b) (1) For the 1998-99 fiscal year to the 2002-03 fiscal year,
inclusive, and including escape assessments levied on or after April
1, 1998, for any fiscal year to the 2002-03 fiscal year, inclusive,
except as otherwise provided in subdivision (a), certificated
aircraft shall be presumed to be valued at full market value if all
of the following conditions are met:
(A) Except as provided in subparagraph (D), value is derived using
original cost. The original cost shall be the greater of the
following:
(i) Taxpayer's cost for that individual aircraft reported in
accordance with generally accepted accounting principles, so long as
that produces net acquisition cost, and to the extent not included in
the taxpayer's cost, transportation costs and capitalized interest
and the cost of any capital addition or modification made before a
transaction described in clause (ii).
(ii) The cost established in a sale/leaseback or assignment of
purchase rights transaction for that individual aircraft that
transfers the benefits and burdens of ownership to the lessor for
United States federal income tax purposes.
If the original cost for leased aircraft cannot be determined from
information reasonably available to the taxpayer, original cost may
be determined by reference to the "average new prices" column of the
Airliner Price Guide for that model, series, and year of manufacture
of aircraft. If information is not available in the "average new
prices" column for that model, series, and year, the original cost
may be determined using the best indicator of original cost plus all
conversion costs incurred for that aircraft. In the event of a
merger, bankruptcy, or change in accounting methods by the reporting
airline, there shall be a rebuttable presumption that the cost of the
individual aircraft and the acquisition date reported by the
acquired company, if available, or the cost reported prior to the
change in accounting method, are the original cost and the applicable
acquisition date.
(B) Original cost, plus the cost of any capital additions or
modifications not otherwise included in the original cost, shall be
adjusted from the date of the acquisition of the aircraft to the lien
date using the producer price index for aircraft and a 16-year
straight-line percent good table starting from the delivery date of
the aircraft to the current owner or, in the case of a sale/leaseback
or assignment of purchase rights transaction, as described in this
section, the current operator with a minimum combined factor of 25
percent, unless this adjustment results in a value less than the
minimum value for that aircraft computed pursuant to subparagraph
(C), in which case the minimum value may be used. If original cost is
determined by reference to the Airliner Price Guide "average new
prices" column, the adjustments required by this paragraph shall be
made by setting the acquisition date of the aircraft to be the date
of the aircraft's manufacture.
(C) For certificated aircraft of a model and series that has been
in revenue service for eight or more years, the minimum value shall
not exceed the average of the used aircraft prices shown in columns
other than the "average new prices" column for used aircraft of the
oldest aircraft for that model and series in the Airliner Price Guide
most recently published as of the lien date. Minimum values shall
not be utilized for certificated aircraft of a model and series that
has been in revenue service for less than eight years.
(D) For out-of-production aircraft that were recommended to be
valued by a market approach for 1998 by the California Assessors'
Association, assessments will be based at the lower of the following:
(i) The values established by the association for the 1998 lien
date.
(ii) The average of the used aircraft prices shown in the columns
other than the "average new prices" column for used aircraft of the
five oldest years for the aircraft model and series or that lesser
time for which data is available in the Airliner Price Guide.
(2) Notwithstanding paragraph (1), in computing assessed value,
the assessor may allow for extraordinary obsolescence if supported by
market evidence and the taxpayer may challenge the assessment for
failure to do so. To constitute market evidence of extraordinary
obsolescence and to permit an assessment appeal, the evidence must
show that the functional and/or economic obsolescence is in excess of
10 percent of the value for the aircraft model and series otherwise
established pursuant to subparagraph (B), (C), or (D) of paragraph
(1).
(3) For purposes of paragraph (1), if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by the airlines and the taxing counties shall
be substituted.
(c) (1) For the 2003-04 fiscal year, certificated aircraft shall
be presumed to be valued at full market value if all of the following
conditions are met:
(A) Except as provided in subparagraph (D), value is derived using
original cost. The original cost shall be the greater of the
following:
(i) Taxpayer's cost for that individual aircraft reported in
accordance with generally accepted accounting principles, so long as
that produces net acquisition cost, and to the extent not included in
the taxpayer's cost, transportation costs and capitalized interest
and the cost of any capital addition or modification made before a
transaction described in clause (ii).
(ii) Taxpayer's cost as established pursuant to this subdivision
plus one-half of the incremental difference between taxpayer's cost
and the cost established in a sale/leaseback or assignment of
purchase rights transaction for individual aircraft that transfers
the benefits and burdens of ownership to the lessor for United States
federal income tax purposes.
If the original cost for leased aircraft cannot be determined from
information reasonably available to the taxpayer, original cost may
be determined by reference to the "average new prices" column of the
Airliner Price Guide for that model, series, and year of manufacture
of aircraft. If information is not available in the "average new
prices" column for that model, series, and year, the original cost
may be determined using the best indicator of original cost plus all
conversion costs incurred for that aircraft. In the event of a
merger, bankruptcy, or change in accounting methods by the reporting
airline, there shall be a rebuttable presumption that the cost of the
individual aircraft and the acquisition date reported by the
acquired company, if available, or the cost reported prior to the
change in accounting method, are the original cost and the applicable
acquisition date.
(B) Original cost, plus the cost of any capital additions or
modifications not otherwise included in original cost, shall be
adjusted from the date of the acquisition of the aircraft to the lien
date using the producer price index for aircraft and a 16-year
straight-line percent good table starting from the delivery date of
the aircraft to the current owner or, in the case of a sale/leaseback
or assignment of purchase rights transaction, as described in this
section, the current operator with a minimum combined factor of 25
percent, unless this adjustment results in a value less than the
minimum value for that aircraft computed pursuant to subparagraph
(C), in which case the minimum value may be used. If original cost is
determined by reference to the Airliner Price Guide "average new
prices" column, the adjustments required by this paragraph shall be
made by setting the acquisition date of the aircraft to be the date
of the aircraft's manufacture.
(C) For certificated aircraft of a model and series that has been
in revenue service for eight or more years, the minimum value shall
not exceed the average of the used aircraft prices shown in columns
other than the "average new prices" column for used aircraft of the
oldest aircraft for that model and series in the Airliner Price Guide
most recently published as of the lien date. Minimum values shall
not be utilized for certificated aircraft of a model and series that
has been in revenue service for less than eight years.
(D) For out-of-production aircraft that were recommended to be
valued by a market approach for 1998 by the California Assessors'
Association, their assessments shall be based at the lower of the
following:
(i) The values established by the association for the 1998 lien
date.
(ii) The average of the used aircraft prices shown in the columns
other than the "average new prices" column for used aircraft of the
five oldest years for the aircraft model and series or that lesser
time for which data is available in the Airliner Price Guide.
(2) Notwithstanding paragraph (1), in computing assessed value,
the assessor may allow for extraordinary obsolescence if supported by
market evidence and the taxpayer may challenge the assessment for
failure to do so. To constitute market evidence of extraordinary
obsolescence and to permit an assessment appeal, the evidence must
show that the functional and or economic obsolescence is in excess of
10 percent of the value for the aircraft model and series otherwise
established pursuant to subparagraph (B), (C), or (D) of paragraph
(1).
(3) For purposes of paragraph (1), if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by the airlines and the taxing counties shall
be substituted.
(d) To calculate the values prescribed in subdivisions (b) and
(c), the taxpayer shall, to the extent that information is reasonably
available to the taxpayer, furnish the county assessor with an
annual property statement that includes the aircraft original costs
as defined in subparagraph (A) of paragraph (1) of subdivision (b) or
(c). If an air carrier that has this information reasonably
available to it fails to report original cost and additions, as
required by Sections 441 and 442, an assessor may make an appropriate
assessment pursuant to Section 501.
401.16. If, for purposes of property taxation, the county assessor
utilizes the reproduction or replacement cost approach to value to
determine the value of tangible personal property or trade fixtures,
both of the following apply:
(a) (1) If the county assessor depreciates this property using
percent good factors published by the State Board of Equalization
that provide separate factors for property that is first acquired new
and property that is first acquired used, the assessor may not
average the published factors to apply these factors to both classes
of new and used property.
(2) Notwithstanding paragraph (1), if information reported by a
taxpayer does not indicate whether this property was first acquired
by the taxpayer new or used, the assessor may average the published
factors.
(b) If the county assessor depreciates this property using percent
good factors that include a minimum percent good, the minimum
percent good factors shall be determined in a manner that is
supportable.
401.17. (a) For the 2005-06 fiscal year to the 2015-16 fiscal year,
inclusive, it shall be rebuttably presumed that the preallocated
fair market value of each make, model, and series of mainline jets,
production freighters, and regional aircraft that has attained situs
within this state is the lesser of the sum total of the amounts
determined under paragraph (1) or the sum total of the amounts
determined under paragraph (2). The value of an individual aircraft
assessed to the original owner of that aircraft shall not exceed its
original cost from the manufacturer. The preallocated fair market
value of an aircraft may be rebutted by evidence including, but not
limited to, appraisals, invoices, and expert testimony.
(1) (A) The original cost for the aircraft, which shall be
determined as follows and adjusted, as applicable, under
subparagraphs (B), (C), and (D):
(i) For owned and leased aircraft, the taxpayer's or lessor's
acquisition cost for that individual aircraft reported in accordance
with generally accepted accounting principles, and to the extent not
included in the acquisition cost, transportation costs and
capitalized interest and the cost of improvements made before a
transaction described in clause (ii). If the original cost for leased
aircraft cannot be determined from information reasonably available
to the taxpayer, original cost may be determined by reference to the
"average new prices" column of the Airliner Price Guide for that
model, series, and year of manufacture of aircraft. If information is
not available in the "average new prices" column for that model,
series, and year, the original cost may be determined using the best
indicator of original cost plus all conversion costs and improvement
costs incurred for that aircraft.
(ii) For sale/leaseback or assignment of purchase rights
transaction aircraft, the average of the taxpayer's cost established
pursuant to clause (i) and the cost established in a sale/leaseback
or assignment of purchase rights transaction for individual aircraft
that transfers the benefits and burdens of ownership to the lessor
for United States federal income tax purposes. In no event shall the
original cost for sale/leaseback aircraft be less than the taxpayer's
acquisition cost.
(iii) In the event of a merger, bankruptcy, or change in
accounting methods by the reporting airline, there shall be a
rebuttable presumption that the cost of the individual aircraft and
the acquisition date reported by the acquired company, if available,
or the cost reported prior to the change in accounting method, are
the original cost and the applicable acquisition date.
(B) (i) For mainline jets and production freighters, the original
cost described in subparagraph (A), plus the cost of any improvements
not otherwise included in the original cost, shall be adjusted from
the date of the acquisition of the aircraft to the lien date using
the monthly United States Department of Labor Producer Price Index
for aircraft and a 20-year straight-line percent-good table starting
from the delivery date of the aircraft to the current owner or, in
the case of a sale/leaseback or assignment of purchase rights
transaction, as described in this section, the current operator with
a minimum combined factor of 25 percent.
(ii) For regional aircraft, the original cost described in
subparagraph (A), plus the cost of any improvements not otherwise
included in the original cost, shall be adjusted from the date of the
acquisition of the aircraft to the lien date using the monthly
United States Department of Labor Producer Price Index for aircraft
and a 16-year straight-line percent-good table starting from the
delivery date of the aircraft to the current owner or, in the case of
a sale/leaseback or assignment of purchase rights transaction, as
described in this section, the current operator with a minimum
combined factor of 25 percent.
(iii) If original cost is determined by reference to the Airliner
Price Guide "average new prices" column, the adjustments required by
this paragraph shall be made by setting the acquisition date of the
aircraft to be the date of the aircraft's manufacture.
(C) (i) For mainline jets and regional aircraft, the assessor
shall analyze the adjusted original cost derived pursuant to
subparagraph (B), for application of an economic obsolescence
allowance which shall be determined as follows:
(I) For the applicable year, the assessor shall calculate the
average annual net revenue per available seat mile, the net load
factor, and the yield utilizing the Airline Quarterly Financial
Review published by the United States Department of Transportation,
and referring to the section descriptive of the passenger airline
industry, entitled "System Operations, System Pax. Majors" for the
calendar year ending December 31 immediately preceding the applicable
assessment date.
(II) For a 10-year benchmark, the assessor shall calculate as of
December 31 for each of the 10 calendar years preceding the
applicable year, the average annual net revenue per available seat
mile, the net load factor, and the yield utilizing the Airline
Quarterly Financial Review published by the United States Department
of Transportation, and referring to the section descriptive of the
passenger airline industry, entitled "System Operations, System Pax.
Majors" for the calendar year ending December 31 immediately
preceding the applicable assessment date.
(ii) (I) The assessor shall compare each factor calculated under
subclause (I) of clause (i) with the corresponding factor calculated
under subclause (II) of clause (i) to derive the percentage that each
of the factors calculated under subclause (I) of clause (i) deviated
from the 10-year benchmark calculated under subclause (II) of clause
(i). The assessor shall then calculate a weighted average of the
indicated percentage adjustments, weighted as follows:
(aa) Net revenue per available seat mile shall be weighted 35
percent.
(ab) Net load factor shall be weighted 35 percent.
(ac) Yield shall be weighted 30 percent.
(II) The assessor shall reduce the adjusted original costs derived
under subparagraph (B) by the percentage adjustment calculated in
subclause (I), but only if the final economic obsolescence determined
under that subclause exceeds 10 percent, otherwise no economic
obsolescence allowance shall be provided.
(D) (i) For production freighters, the assessor shall analyze the
adjusted original cost derived under subparagraph (B), for
application of an economic obsolescence allowance, as follows:
(I) For the applicable year, the assessor shall calculate the
industry average of net revenue per available ton mile and the ton
load factor based upon the Airline Quarterly Financial Review
published by the United States Department of Transportation, and
referring to the section descriptive of the cargo airline industry,
entitled "System Operations, System Cargo Majors" for the calendar
year ending December 31 preceding the relevant assessment date.
(II) For a 10-year benchmark, the assessor shall calculate as of
December 31 for each of the 10 calendar years preceding the
applicable year, the net revenue per available ton mile and the ton
load factor utilizing the Airline Quarterly Financial Review
published by the United States Department of Transportation and
referring to the section descriptive of the cargo airline industry,
entitled "System Operations, System Cargo Majors" as of December 31
for each of the 10 calendar years preceding the calendar year
utilized for the subject year, for the calendar year ending December
31 immediately preceding the applicable assessment date.
(ii) (I) The assessor shall compare each factor calculated under
subclause (I) of clause (i) with the corresponding factor calculated
under subclause (II) of clause (i) to derive the percentage that each
of the factors calculated under subclause (I) of clause (i) deviated
from the 10-year benchmark calculated under subclause (II) of clause
(i). The assessor shall then calculate a weighted average of the
indicated percentage adjustments so that the net revenue per
available ton mile is weighted 50 percent and the ton load factor is
weighted 50 percent.
(II) The assessor shall reduce the adjusted original costs derived
under subparagraph (B) by the percentage adjustment calculated in
subclause (I), but only if the final economic obsolescence determined
under that subclause exceeds 10 percent, otherwise no economic
obsolescence allowance shall be provided.
(2) (A) Except as otherwise provided in subparagraph (B), for each
individual mainline jet, production freighter, or regional aircraft,
the assessor shall identify the value referenced in the "Used Price
of Avg. Acft. Wholesale" column of the Winter edition of the Airliner
Price Guide by make, model, series, and year of manufacture, and
deduct 10 percent from that value for a fleet discount.
(B) For each individual mainline jet, production freighter, or
regional aircraft that is less than two years old and for which the
Airliner Price Guide does not list used wholesale values, the
original cost determined under paragraph (1) of subparagraph (A)
shall be decreased by the lesser of 5 percent or one-half of the
percentage decrease between original cost and 90 percent of the value
listed in the "Used Price of Avg. Acft. Wholesale" column of the
Winter edition of the Airliner Price Guide for a two-year-old
aircraft of that same make, model, and series.
(b) For the 2005-06 fiscal year to the 2015-16 fiscal year,
inclusive, it shall be rebuttably presumed that the preallocated fair
market value for each make, model, and series of converted
freighters that has attained situs within this state is the amount
that is determined as follows:
(1) (A) The assessor shall begin his or her appraisal of a
converted freighter as of the relevant lien date by identifying the
aircraft's original cost as a passenger aircraft prior to conversion.
The aircraft's original cost as a converted freighter shall be the
lesser of:
(i) Its trended original cost as a passenger aircraft prior to
conversion, less a downward adjustment of 10 percent to reflect
tear-outs.
(ii) Its value described in the Winter edition of the Airliner
Price Guide in the "Used Price of Avg. Acft. Wholesale" column in
passenger configuration, less a downward adjustment of 10 percent to
reflect tear-outs.
(B) The amount determined under subparagraph (A) shall be adjusted
according to the following:
(i) If, on the relevant lien date, the frame of the aircraft is 15
years old or more, 50 percent of the cost to convert the aircraft to
a freighter shall be added to the value determined under
subparagraph (A).
(ii) If, on the relevant lien date, the frame of the aircraft is
less than 15 years old, 75 percent of the cost to convert the
aircraft to a freighter shall be added to the value determined under
subparagraph (A).
(iii) In addition, all other improvements, including capitalized
interest, to the aircraft that are not otherwise included in the
aircraft's original and conversion costs shall be added at full
value.
(2) The amount determined under paragraph (1) shall be adjusted
from the date of the conversion of the aircraft to the lien date
using the monthly United States Department of Labor Producer Price
Index for aircraft and a 16-year straight-line percent-good table,
however, the percent-good applied to the aircraft shall in no event
be less than 15 percent.
(3) If the Airliner Price Guide "Used Price of Avg. Acft.
Wholesale" is utilized under paragraph (1), only the improvements and
adjusted conversion costs pertaining to the converted freighter
shall be adjusted from the date of the conversion of the aircraft to
the relevant lien date using the monthly United States Department of
Labor Producer Price Index for aircraft and a 16-year straight-line
percent-good table. In no event, however, shall the percent-good
applied to the improvements and adjusted conversion costs be less
than 15 percent.
(4) (A) Except as otherwise provided in subparagraph (B), the
assessor shall reduce the adjusted original cost, plus improvements,
and adjusted conversion costs, derived under paragraphs (1) to (3),
inclusive, by the obsolescence percentage adjustment calculated for
production freighters under subparagraph (D) of paragraph (1) of
subdivision (a).
(B) If the Airliner Price Guide "Used Price of Avg. Acft.
Wholesale" is utilized under paragraph (1), only the improvements and
adjusted conversion costs pertaining to the converted freighter
shall be reduced by the obsolescence percentage adjustment described
in subparagraph (A).
(c) For purposes of this section, if the Airliner Price Guide
ceases to be published or the format significantly changes, a guide
or adjustment agreed to by commercial air carriers and the counties
in which certificated aircraft have situs shall be substituted. If
these parties do not agree on a guide or adjustment, the State Board
of Equalization shall determine the guide or adjustment.
(d) The taxpayer shall, to the extent that information is
reasonably available to the taxpayer, furnish the county assessor
with an annual property statement that includes the aircraft original
costs as defined in subparagraph (A) of paragraph (1) of subdivision
(a). If an air carrier that has this information reasonably
available to it fails to report original cost and improvements, as
required by Sections 441 and 442, an assessor may in that case make
an appropriate assessment pursuant to Section 501.
(e) For purposes of this section, all of the following apply:
(1) "Converted freighter" means a certificated aircraft, as
defined in Section 1150, that, following its original manufacture,
was used for passenger transportation, but was later converted to be
used primarily for cargo transportation purposes.
(2) "Mainline jet" means a certificated aircraft, as defined in
Section 1150, that is either of the following:
(A) Manufactured by Boeing, Airbus, or McDonnell Douglas.
(B) Capable of being configured with approximately 100 seats or
more.
(3) "Production Freighter" means a certificated aircraft, as
defined in Section 1150, that immediately following its manufacture
is deployed primarily for cargo transportation purposes.
(4) "Regional aircraft" means a certificated aircraft, as defined
in Section 1150, that is either of the following:
(A) Manufactured by ATR (Avions De Transport Regional), Beech,
British Aerospace Jetstream, Canadair Regional Jet, Cessna,
DeHaviland, Embraer, Fairchild, or Saab.
(B) Generally configured with fewer than 100 seats.
(5) "Improvements" means the cost of any modifications or capital
additions that materially add to the value of or substantially
prolong the useful life of the aircraft, or make it adaptable to a
different use. "Improvements" include modification costs incurred
during a heavy maintenance visit to the extent that they materially
add to the value of or substantially prolong the useful life of the
aircraft. "Improvements" do not include repair and maintenance costs
incurred for the purpose of keeping the aircraft in an ordinarily
efficient operating condition.
(6) "Net revenue per available seat mile" means operating revenue
per available seat mile less cost per available seat mile as
determined by the United States Department of Transportation.
(7) "Net load factor" means actual passenger load factor less
break-even passenger load factor, as determined by the United States
Department of Transportation.
(8) "Net revenue per available ton mile" means operating revenue
per ton mile less cost per available ton mile as determined by the
United States Department of Transportation.
(9) "Yield" means average revenue per revenue passenger mile as
determined by the United States Department of Transportation.
(10) "Ton Load Factor" means that percentage of effective use of
cargo capacity as determined by the United States Department of
Transportation.
(f) The amendments made by the act adding this subdivision shall
apply with respect to lien dates occurring on and after January 1,
2011.
401.20. (a) (1) The State Board of Equalization shall, in
consultation with the California Assessors' Association and
representatives of the computer, semiconductor, and biopharmaceutical
industries, conduct a study to obtain and analyze data in order to
update the information used to develop the valuation factors annually
published by the State Board of Equalization that are applied to
nonproduction computers, semiconductor manufacturing equipment, and
biopharmaceutical industry equipment and fixtures.
(2) The State Board of Equalization shall conduct the study
described in paragraph (1) only if funds are appropriated by the
Legislature to the board for that purpose during the 2005-06 Regular
Session.
(3) To the extent the State Board of Equalization periodically
conducts these studies, the board shall publish revised valuation
factors based on the updated information. If the board reviews the
data and determines that an update is not warranted, the existing
factors shall remain in effect.
(b) (1) Notwithstanding any other provision of law relating to the
determination of the values for property tax assessment, values
determined by using valuation factors resulting from the study
described in subdivision (a), as instructed by the State Board of
Equalization for nonproduction computers, semiconductor manufacturing
equipment, and biopharmaceutical industry equipment and fixtures,
shall be rebuttably presumed to be the full cash value.
(2) The assessor or the taxpayer shall have the right to present
evidence supporting values different from those based on the
published factors in order to attempt to overcome the presumption.
(c) The presumption in subdivision (b) shall not apply to any
particular tax year if the information upon which the valuation
factors for that category of property are based was last reviewed by
the State Board of Equalization more than six years before the lien
date for that tax year.
402. Cultivated and uncultivated land of the same quality and
similarly situated shall be assessed at the same value.
402.1. (a) In the assessment of land, the assessor shall consider
the effect upon value of any enforceable restrictions to which the
use of the land may be subjected. These restrictions shall include,
but are not limited to, all of the following:
(1) Zoning.
(2) Recorded contracts with governmental agencies other than those
provided in Sections 422 and 422.5.
(3) Permit authority of, and permits issued by, governmental
agencies exercising land use powers concurrently with local
governments, including the California Coastal Commission and regional
coastal commissions, the San Francisco Bay Conservation and
Development Commission, and the Tahoe Regional Planning Agency.
(4) Development controls of a local government in accordance with
any local coastal program certified pursuant to Division 20
(commencing with Section 30000) of the Public Resources Code.
(5) Development controls of a local government in accordance with
a local protection program, or any component thereof, certified
pursuant to Division 19 (commencing with Section 29000) of the Public
Resources Code.
(6) Environmental constraints applied to the use of land pursuant
to provisions of statutes.
(7) Hazardous waste land use restriction pursuant to Section 25240
of the Health and Safety Code.
(8) A recorded conservation, trail, or scenic easement, as
described in Section 815.1 of the Civil Code, that is granted in
favor of a public agency, or in favor of a nonprofit corporation
organized pursuant to Section 501(c)(3) of the Internal Revenue Code
that has as its primary purpose the preservation, protection, or
enhancement of land in its natural, scenic, historical, agricultural,
forested, or open-space condition or use.
(b) There is a rebuttable presumption that restrictions will not
be removed or substantially modified in the predictable future and
that they will substantially equate the value of the land to the
value attributable to the legally permissible use or uses.
(c) Grounds for rebutting the presumption may include, but are not
necessarily limited to, the past history of like use restrictions in
the jurisdiction in question and the similarity of sales prices for
restricted and unrestricted land. The possible expiration of a
restriction at a time certain shall not be conclusive evidence of the
future removal or modification of the restriction unless there is no
opportunity or likelihood of the continuation or renewal of the
restriction, or unless a necessary party to the restriction has
indicated an intent to permit its expiration at that time.
(d) In assessing land with respect to which the presumption is
unrebutted, the assessor shall not consider sales of otherwise
comparable land not similarly restricted as to use as indicative of
value of land under restriction, unless the restrictions have a
demonstrably minimal effect upon value.
(e) In assessing land under an enforceable use restriction wherein
the presumption of no predictable removal or substantial
modification of the restriction has been rebutted, but where the
restriction nevertheless retains some future life and has some effect
on present value, the assessor may consider, in addition to all
other legally permissible information, representative sales of
comparable lands that are not under restriction but upon which
natural limitations have substantially the same effect as
restrictions.
(f) For the purposes of this section the following definitions
apply:
(1) "Comparable lands" are lands that are similar to the land
being valued in respect to legally permissible uses and physical
attributes.
(2) "Representative sales information" is information from sales
of a sufficient number of comparable lands to give an accurate
indication of the full cash value of the land being valued.
(g) It is hereby declared that the purpose and intent of the
Legislature in enacting this section is to provide for a method of
determining whether a sufficient amount of representative sales
information is available for land under use restriction in order to
ensure the accurate assessment of that land. It is also hereby
declared that the further purpose and intent of the Legislature in
enacting this section and Section 1630 is to avoid an assessment
policy which, in the absence of special circumstances, considers uses
for land that legally are not available to the owner and not
contemplated by government, and that these sections are necessary to
implement the public policy of encouraging and maintaining effective
land use planning. Nothing in this statute shall be construed as
requiring the assessment of any land at a value less than as required
by Section 401 or as prohibiting the use of representative
comparable sales information on land under similar restrictions when
this information is available.
402.3. An assessor shall consider any restrictive covenant,
easement, restriction, or servitude adopted pursuant to Section
25202.5, 25222.1, or 25355.5 of the Health and Safety Code or any
restriction, easement, covenant, or servitude imposed pursuant to
Section 25230 of the Health and Safety Code as an enforceable
restriction, easement, covenant, or servitude subject to Section
402.1 and shall appropriately reassess any land, the use of which has
been so restricted, at the lien date following the adoption or
imposition of the covenant, easement, servitude, or restriction.
402.5. When valuing property by comparison with sales of other
properties, in order to be considered comparable, the sales shall be
sufficiently near in time to the valuation date, and the properties
sold shall be located sufficiently near the property being valued,
and shall be sufficiently alike in respect to character, size,
situation, usability, zoning or other legal restriction as to use
unless rebutted pursuant to Section 402.1, to make it clear that the
properties sold and the properties being valued are comparable in
value and that the cash equivalent price realized for the properties
sold may fairly be considered as shedding light on the value of the
property being valued. "Near in time to the valuation date" does not
include any sale more than 90 days after the lien date.
402.9. In valuing property for persons of low and moderate income
that is financed under Section 236 or Section 515 of the federal
National Housing Act, since federal restrictions accompanying these
programs substantially affect actual income and expenses of the
property owner, the assessor shall not consider as income any
interest subsidy payments made to a lender on that property by the
federal government.
402.95. In valuing property under the income method of appraisal,
the assessor shall exclude from income the benefit from federal and
state low-income housing tax credits allocated by the California Tax
Credit Allocation Committee pursuant to Section 42 of the Internal
Revenue Code and Sections 12206, 17058, and 23610.5.
403. Land sold by the State for which no patent has been issued
shall be assessed like other land, but the owner is entitled to a
deduction from the assessed valuation of the amount due the State as
principal on the purchase price.
404. All taxable property, except State assessed property, shall be
assessed by the assessing agency of the taxing agency where the
property is situated.
405. (a) Annually, the assessor shall assess all the taxable
property in his county, except state-assessed property, to the
persons owning, claiming, possessing, or controlling it on the lien
date.
The assessor may assess the property on the secured roll to the
person owning, claiming, possessing or controlling it for the ensuing
fiscal year.
(b) The assessor may assess all taxable property in his county on
the unsecured roll jointly to both the lessee and lessor of such
property.
(c) Notices of assessment and tax bills relating to jointly
assessed property on the unsecured roll shall be mailed to both the
lessee and the lessor at their latest addresses known to the
assessor.
405.5. The assessor shall periodically appraise all property not
subject to the provisions of Article XIII A of the Constitution to
substantiate the judgment of its full cash value or, when provided
for by law, its restricted value for uniform assessment purposes.
407. Annually, on the second Monday in July, the assessor shall
transmit a statistical statement to the board, supplying any
statistical information which the board may require, and shall supply
from time to time any other information required by the board.
408. (a) Except as otherwise provided in subdivisions (b), (c),
(d), and (e), any information and records in the assessor's office
that are not required by law to be kept or prepared by the assessor,
disabled veterans' exemption claims, and homeowners' exemption
claims, are not public documents and shall not be open to public
inspection. Property receiving the homeowners' exemption shall be
clearly identified on the assessment roll. The assessor shall
maintain records which shall be open to public inspection to identify
those claimants who have been granted the homeowners' exemption.
(b) The assessor may provide any appraisal data in his or her
possession to the assessor of any county.
The assessor shall disclose information, furnish abstracts, or
permit access to all records in his or her office to law enforcement
agencies, the county grand jury, the board of supervisors or their
duly authorized agents, employees, or representatives when conducting
an investigation of the assessor's office pursuant to Section 25303
of the Government Code, the county recorder when conducting an
investigation to determine whether a documentary transfer tax is
imposed, the Controller, employees of the Controller for property tax
postponement purposes, probate referees, employees of the Franchise
Tax Board for tax administration purposes only, staff appraisers of
the Department of Financial Institutions, the Department of
Transportation, the Department of General Services, the State Board
of Equalization, the State Lands Commission, the State Department of
Social Services, the Department of Child Support Services, the
Department of Water Resources, and other duly authorized legislative
or administrative bodies of the state pursuant to their authorization
to examine the records. Whenever the assessor discloses information,
furnishes abstracts, or permits access to records in his or her
office to staff appraisers of the Department of Financial
Institutions, the Department of Transportation, the Department of
General Services, the State Lands Commission, or the Department of
Water Resources pursuant to this section, the department shall
reimburse the assessor for any costs incurred as a result thereof.
(c) Upon the request of the tax collector, the assessor shall
disclose and provide to the tax collector information used in the
preparation of that portion of the unsecured roll for which the taxes
thereon are delinquent. The tax collector shall certify to the
assessor that he or she needs the information requested for the
enforcement of the tax lien in collecting those delinquent taxes.
Information requested by the tax collector may include social
security numbers, and the assessor shall recover from the tax
collector his or her actual and reasonable costs for providing the
information. The tax collector shall add the costs described in the
preceding sentence to the assessee's delinquent tax lien and collect
those costs subject to subdivision (e) of Section 2922.
(d) The assessor shall, upon the request of an assessee or his or
her designated representative, permit the assessee or representative
to inspect or copy any market data in the assessor's possession. For
purposes of this subdivision, "market data" means any information in
the assessor's possession, whether or not required to be prepared or
kept by him or her, relating to the sale of any property comparable
to the property of the assessee, if the assessor bases his or her
assessment of the assessee's property, in whole or in part, on that
comparable sale or sales. The assessor shall provide the names of the
seller and buyer of each property on which the comparison is based,
the location of that property, the date of the sale, and the
consideration paid for the property, whether paid in money or
otherwise. However, for purposes of providing market data, the
assessor may not display any document relating to the business
affairs or property of another.
(e) (1) With respect to information, documents, and records, other
than market data as defined in subdivision (d), the assessor shall,
upon request of an assessee of property, or his or her designated
representative, permit the assessee or representative to inspect or
copy all information, documents, and records, including auditors'
narrations and workpapers, whether or not required to be kept or
prepared by the assessor, relating to the appraisal and the
assessment of the assessee's property, and any penalties and interest
thereon.
(2) After enrolling an assessment, the assessor shall respond to a
written request for information supporting the assessment,
including, but not limited to, any appraisal and other data requested
by the assessee.
(3) Except as provided in Section 408.1, an assessee, or his or
her designated representative, may not be permitted to inspect or
copy information and records that also relate to the property or
business affairs of another, unless that disclosure is ordered by a
competent court in a proceeding initiated by a taxpayer seeking to
challenge the legality of the assessment of his or her property.
(f) (1) Permission for the inspection or copying requested
pursuant to subdivision (d) or (e) shall be granted as soon as
reasonably possible to the assessee or his or her designated
representative.
(2) If the assessee, or his or her designated representative,
requests the assessor to make copies of any of the requested records,
the assessee shall reimburse the assessor for the reasonable costs
incurred in reproducing and providing the copies.
(3) If the assessor fails to permit the inspection or copying of
materials or information as requested pursuant to subdivision (d) or
(e) and the assessor introduces any requested materials or
information at any assessment appeals board hearing, the assessee or
his or her representative may request and shall be granted a
continuance for a reasonable period of time. The continuance shall
extend the two-year period specified in subdivision (c) of Section
1604 for a period of time equal to the period of continuance.
408.1. (a) The assessor shall maintain a list of transfers of any
interest in property, other than undivided interests, within the
county, which have occurred within the preceding two-year period.
(b) The list shall be divided into geographical areas and shall be
revised on the 30th day of each calendar quarter to include all such
transactions which are recorded as of the preceding quarter.
(c) The list shall contain the following information:
(1) Transferor and transferee, if available;
(2) Assessor's parcel number;
(3) Address of the sales property;
(4) Date of transfer;
(5) Date of recording and recording reference number;
(6) Where it is known by the assessor, the consideration paid for
such property; and
(7) Additional information which the assessor in his discretion
may wish to add to carry out the purpose and intent of this section.
Other than sales information, the assessor shall not include
information on the list which relates to the business or business
affairs of the owner of the property, information concerning the
business carried on upon the subject property, or the income or
income stream generated by the property.
(d) The list shall be open to inspection by any person. The
assessor may require the payment of a nonrefundable fee equal to an
amount which would reimburse local agencies for their actual
administrative costs incurred in such inspections or ten dollars
($10), whichever is the lesser amount.
(e) The provisions of this section shall not apply to any county
with a population of under 50,000 people, as determined by the 1970
federal decennial census.
(f) Pursuant to Section 481, the assessor shall not include
information on the list which was furnished in the change in
ownership statement by the transferee and is not otherwise public
information.
408.2. (a) Except as otherwise provided in Sections 63.1, 69.5,
451, and 481 of this code and in Section 6254 of the Government Code,
any information and records in the assessor's office which are
required by law to be kept or prepared by the assessor, other than
homeowners' exemption claims, are public records and shall be open to
public inspection. Property receiving the homeowners' exemption
shall be clearly identified on the assessment roll. The assessor
shall maintain records which shall be open to public inspection to
identify those claimants who have been granted the homeowners'
exemption.
(b) The assessor may provide any appraisal data in his or her
possession to the assessor of any county and shall provide any market
data in his or her possession to an assessee of property or his or
her designated representative upon request. The assessor shall permit
an assessee of property or his or her designated representative to
inspect at the assessor's office any information and records, whether
or not required to be kept or prepared by the assessor, relating to
the appraisal and the assessment of his or her property. Except as
provided in Section 408.1, an assessee or his or her designated
representative, however, shall not be provided or permitted to
inspect information and records, other than market data, which also
relate to the property or business affairs of another person, unless
that disclosure is ordered by a competent court in a proceeding
initiated by a taxpayer seeking to challenge the legality of his or
her assessment.
(c) The assessor shall disclose information, furnish abstracts, or
permit access to all records in his or her office to law enforcement
agencies, the county grand jury, the board of supervisors or their
duly authorized agents, employees or representatives when conducting
an investigation of the assessor's office pursuant to Section 25303
of the Government Code, the Controller, probate referees, employees
of the Franchise Tax Board for tax administration purposes only, the
State Board of Equalization, and other duly authorized legislative or
administrative bodies of the state pursuant to their authorization
to examine the records.
(d) For purposes of this section, "market data" means any
information in the assessor's possession, whether or not required to
be prepared or kept by him or her, relating to the sale of any
property comparable to the property of the assessee, if the assessor
bases his or her assessment of the assessee's property, in whole or
in part, on that comparable sale or sales. The assessor shall provide
the names of the seller and buyer of each property on which the
comparison is based, the location of that property, the date of the
sale, and the consideration paid for the property, whether paid in
money or otherwise, but for purposes of providing market data, the
assessor shall not display any document relating to the business
affairs or property of another.
(e) This section applies only to a county with a population that
exceeds 4,000,000.
408.3. (a) Except as otherwise provided in Sections 451 and 481 and
in Section 6254 of the Government Code, property characteristics
information maintained by the assessor is a public record and shall
be open to public inspection.
(b) For purposes of this section, "property characteristics,"
includes, but is not limited to, the year of construction of
improvements to the property, their square footage, the number of
bedrooms and bathrooms of all dwellings, the property's acreage, and
other attributes of or amenities to the property, such as swimming
pools, views, zoning classifications or restrictions, use code
designations, and the number of dwelling units of multiple family
properties.
(c) Notwithstanding Section 6257 of the Government Code or any
other provision of law, if the assessor provides property
characteristics information at the request of any party, the assessor
may require that a fee reasonably related to the actual cost of
developing and providing the information be paid by the party
receiving the information.
The actual cost of providing the information is not limited to
duplication or production
