AB 613 (González, Mark D) Property taxation: assessment: affordable commercial property.
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(González, Mark D) Property taxation: assessment: affordable commercial property. |
Position Watch
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Introduced: 2/13/2025 |
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Last Amend: 5/7/2025 |
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Status: 5/23/2025-In committee: Held under submission. |
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Location: 5/21/2025-A. APPR. SUSPENSE FILE |
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Summary: Current law requires the county assessor to consider, when valuing real property for property taxation purposes, the effect of any enforceable restrictions to which the use of the land may be subjected, including, but not limited to, zoning, recorded contracts with governmental agencies, and various other restrictions imposed by governments. This bill would add to the above-described enforceable restrictions certain renewable leases between a commercial community ownership entity, as defined, that owns the land and a nonprofit, as defined. |