The adjusted base value is the upper limit of taxable value each year. Thereafter, any assessment year in which real property, or a portion thereof, is purchased, is newly constructed, or changes ownership will become the base year used in determining the full cash value for such real property, or the portion thereof. Full cash value of property on the date it changes ownership or new construction on the date it is completed. Improvements may also include certain commercial and industrial fixtures and some commercial farm plants and vines. Any property owned other than real estate including airplanes, boats, and business property such as computers, supplies, furniture, machinery or equipment.
Business inventory is exempt.
Direct charges against property which are included in the total tax bill but which are not based upon the Assessor's valuation of the property. A sewer service charge, a school parcel tax, or a library benefit assessment are examples. In addition, the rate will include an amount necessary to make the annual payment of principle and interest on general obligation bonds or other indebtedness approved by the voters. This tax rate is divided among the County, cities, schools and special districts. All Rights Reserved.