Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2017
Property Tax Annotations
A B C D E F G H I L M N O P R S T U V W
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660.0000 POSSESSORY INTEREST
Annotation 660.0239
660.0239 Redevelopment Agencies.. The valuation method prescribed in Government Code section 33673 for former redevelopment agency property is not valid when that property has been transferred to a successor agency. Because a taxable possessory interest was created when property was leased by the redevelopment agency, the transfer of the fee interest in that property to a successor agency does not result in a change in ownership of the taxable possessory interest under Revenue and Taxation Code section 61(b) and Property Tax Rule 21(a)(9). Therefore, the assessed value of the taxable possessory interest is the lesser of the base year value established when the property was first leased factored pursuant to Revenue and Taxation Code section 51 or the fair market value. C 6/11/2015.