Proposed Revisions to Property Tax Rule 462.500, Change in Ownership of Real Property Acquired to Replace Property Taken by Government Action or Eminent Domain Proceedings

Senate Bill 803 (Stats. 2015, ch. 454) amended Revenue and Taxation Code section 68 to specify that if a taxpayer files a request for exclusion after the four-year deadline, the base year value transfer will be applied on the lien date of the assessment year in which the taxpayer files the request, and is to apply to the lien dates for the last four fiscal years with appropriate roll corrections, refunds, or cancellations. Staff is commencing the Interested Parties process to amend Rule 462.500 to conform to the changes to section 68.

Date Description of Task
6/13/2019 Staff to release letter advising recipients of the project and inviting interested parties to submit proposed changes to the draft rule
7/26/2019 Deadline for interested parties to submit proposed changes, in the form of alternative text, to staff on the draft rule
9/13/2019 Staff to mail letter containing draft language of proposed rule changes and inviting interested parties to submit comments
10/23/2019 Deadline for interested parties to submit comments
Board to authorize publication of proposed amendments to rule
Staff to mail letter announcing public hearing
Public hearing on proposed amendments to the rule