CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 546Introduced by Senator Alvarado-GilFebruary 15, 2023 An act to amend Section 75.10 of the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGESTSB 546, as introduced, Alvarado-Gil. Property taxes: base year values.Existing law provides that whenever a change in ownership occurs or new construction, as specified, is completed, the property changing ownership or new construction shall be appraised at its full cash value, except as otherwise provided, on the date the change in ownership occurs or the new construction is completed.This bill would make nonsubstantive changes to those provisions.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 75.10 of the Revenue and Taxation Code is amended to read:75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Senate Bill No. 546Introduced by Senator Alvarado-GilFebruary 15, 2023 An act to amend Section 75.10 of the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGESTSB 546, as introduced, Alvarado-Gil. Property taxes: base year values.Existing law provides that whenever a change in ownership occurs or new construction, as specified, is completed, the property changing ownership or new construction shall be appraised at its full cash value, except as otherwise provided, on the date the change in ownership occurs or the new construction is completed.This bill would make nonsubstantive changes to those provisions.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Senate Bill
No. 546
Introduced by Senator Alvarado-GilFebruary 15, 2023
Introduced by Senator Alvarado-Gil
February 15, 2023
An act to amend Section 75.10 of the Revenue and Taxation Code, relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 546, as introduced, Alvarado-Gil. Property taxes: base year values.
Existing law provides that whenever a change in ownership occurs or new construction, as specified, is completed, the property changing ownership or new construction shall be appraised at its full cash value, except as otherwise provided, on the date the change in ownership occurs or the new construction is completed.This bill would make nonsubstantive changes to those provisions.
Existing law provides that whenever a change in ownership occurs or new construction, as specified, is completed, the property changing ownership or new construction shall be appraised at its full cash value, except as otherwise provided, on the date the change in ownership occurs or the new construction is completed.
This bill would make nonsubstantive changes to those provisions.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 75.10 of the Revenue and Taxation Code is amended to read:75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 75.10 of the Revenue and Taxation Code is amended to read:75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.
SECTION 1. Section 75.10 of the Revenue and Taxation Code is amended to read:
### SECTION 1.
75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.
75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.
75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.
75.10. (a) Commencing with the 198384 assessment year and each assessment year thereafter, whenever a change in ownership occurs or new construction resulting from actual physical new construction on the site is completed, the assessor shall appraise the property changing ownership or the new construction at its full cash value (except value, except as provided in Section 68 and subdivision (b) of this section) section, on the date the change in ownership occurs or the new construction is completed. The value so determined shall be the new base year value of the property or the new construction.
(b) For purposes of this chapter, actual physical new construction includes the removal of a structure from land. The new base year value of the remaining property (after property, after the removal of the structure) structure, shall be determined in the same manner as provided in subdivision (b) of Section 51.
(c) For purposes of this section, actual physical new construction includes the discovery of previously unknown reserves of oil or gas.