Assessment of Community Land Trust Housing

Effective September 27, 2016, Assembly Bill (AB) 2818 amended Revenue and Taxation Code section 402.1(a) to require county assessors to recognize qualifying restrictions on owner-occupied homes controlled by community land trusts. Staff is commencing an interested parties process to discuss guidance in light of the amendments to section 402.1(a).

Assessment of Community Land Trust Housing Timeline
Date Description of Task
3/15/2018 Staff to release letter advising recipients of the project and inviting interested parties to submit proposed changes to the draft Letter to Assessors (LTA)
4/10/2018 Staff to meet with interested parties to discuss draft LTA
7/12/2018 Staff to meet with interested parties to discuss the revised draft of the LTA
7/20/2018 Staff to release revised draft LTA
10/12/2018 Staff to post issue paper and other related documents for the Board Meeting
10/23/2018 Board to hear presentations on any unresolved issues regarding the language of the guidelines and adopt guidelines
3/20/2019 Staff to meet with interested parties to discuss possible solutions to the property tax issues faced by community land trusts
4/24/2019 Staff to meet with interested parties to discuss possible solutions to the property tax issues faced by community land trusts