Laws, Regulations & Annotations

B

200.0000 BASE YEAR VALUE TRANSFER

(b) BASE YEAR VALUE TRANSFER – GOVERNMENT ACQUISITION

Annotation 200.0326.005

200.0326.005 Easement. Government acquisition of an easement may constitute "property taken" for purposes of Revenue and Taxation Code section 68 and Rule 462.500 when the value of the easement is substantially equal to the value of the fee interest. Factors determining value equivalence include whether the easement is exclusive, perpetual in nature, and over a specific area of land, and whether the taking displaces the property owner from the underlying property. A property owner may be considered "displaced" if the underlying property of the easement is becoming a public roadway which permanently eliminates the taxpayer's existing parking spaces, because the underlying property owner will be removed from and will not retain any practical utility in the portion of the property subject to easement. Such an easement is distinguishable from a public utility or temporary easement, which gives the public entity limited use while the underlying property owner retains some utility in the area (such as landscaping or a driveway). C 3/29/2016.