Legislation that impacts the property tax system
Our office, in conjunction with the California Assessors’ Association Legislative Committee, tracks legislation that impacts the property tax system. In addition, the CAA sponsors legislation that enhances or clarifies property tax policy.
The bills of interest to assessors are listed below. To see the full text of the legislation along with analysis, click on the bill number. The positions noted are those of the Los Angeles County Assessor and may not reflect those of the CAA.
|Bill Number||Author||Bill Summary||Position||Comments|
|AB 1157||Nazarian||The California Constitution requires property subject to ad valorem property taxation to be assessed in the county in which it is situated. Existing law, for the 2005–06 fiscal year to the 2015–16 fiscal year, inclusive, specifies a formula to determine the fair market value of certificated aircraft of a commercial air carrier, and rebuttably presumes that the amount determined pursuant to this formula is the fair market value of the certificated aircraft. This bill would extend the 2015–16 fiscal year termination date to the 2021–22 fiscal year and the December 31, 2015, inoperative or repeal date to December 31, 2021, for the above-described provisions relating to the determination of the fair market value and taxation of certificated aircraft. CAA SPONSORED||FYI|
|AB 476||Chang||Homeowners’ Property Tax Exemption and Renters’ Tax Credit. Increases from $7,000 to $25,000 the homeowners’ exemption, and requires an annual inflation adjustment. Also increases from $120 to $428 (for joint filers, heads of household and surviving spouses) and from $60 to $214 (for all other individuals) the renters’ tax credit; and requires an annual inflation adjustment, while retaining the annual inflation adjustment on the income limitations for qualified renters.||FYI|
|AB 567||Gipson||Allows the Board of Equalization to release information as to whether a Legal Entity Change-in-Ownership statement has been filed.||FYI|
|AB 434||Allen||Requires the owner of a manufactured home or mobile home to request a transfer from the vehicle license fee to local property taxation if the home is reconstructed to be equivalent to a home of standard residential construction on a permanent foundation.||Support|