California Code of Regulations › Title 18 - Public Revenues › Division 1 - State Board of Equalization-Property Tax (California Department of Tax and Fee Administration - Timber Yield Tax, See Chapter 11) › Chapter 1 - Valuation Principles and Procedures › Section 29 - Possessory Interests in Taxable Government-Owned Real Property

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Definitions.
				For purposes of this rule:
(1) "Assessed
				value" is defined in subdivision (a) of section
				135
				of the Revenue and Taxation Code.
(2) "Improvements" are defined in rule
				122.
(3) "Land" is defined in rule
				121.
(4) A "lease for agricultural
				purposes" is a lease for the purpose of the production or husbandry of plants
				or animals, including gardening, horticulture, fruit growing, and the storage
				and marketing of agricultural products.
(5) "Other taxable improvements" are
				improvements owned by a local government outside of its boundaries that are
				taxable for property tax purposes pursuant to section
				11(a), excluding
				taxable replacement improvements.
(6) "Real property" is the appraisal unit of
				real property, as defined in section
				104
				of the Revenue and Taxation Code, that persons in the marketplace commonly buy
				and sell as a unit or that is normally valued separately.
(7) "Section
				11" means section
				11 of Article XIII of the
				California Constitution.
(8) The
				"section 11 taxable possessory interest
				limitation amount" means the fair market value of the taxable government-owned
				real property on the lien date less the section
				11 value of the taxable
				government-owned real property on the lien date.
(9) The "section
				11 value of taxable
				government-owned real property" means the sum of:
(i) the section
				11 assessment amount for the
				taxable lands included in the real property on the lien date, computed pursuant
				to subdivisions (b) and (c) of section
				11;
(ii) the section
				11 assessment amount for any
				taxable replacement improvements included in the real property on the lien date
				computed pursuant to the provisions of subdivision (d) of section
				11; and
(iii) the fair market value of other taxable
				improvements included in the real property on the lien date, if
				any.
(10) "Taxable
				government-owned real property" is real property owned by a local government
				outside of its boundaries that is taxable for property tax purposes pursuant to
				section 11(a).
(11) "Taxable lands" are lands owned by a
				local government outside of its boundaries that are taxable for property tax
				purposes pursuant to section
				11(a).
(12) "Taxable possessory interest" is defined
				in rule 20.
(13) "Taxable
				replacement improvements" are improvements owned by a local government outside
				of its boundaries that are taxable for property tax purposes pursuant to
				section 11(a) because
				they were constructed by the local government to replace improvements that were
				taxable when acquired.
(14) The
				"total assessed value of all taxable possessory interests" means the aggregate
				assessed values of all taxable possessory interests in an appraisal unit of
				taxable government-owned real property on the lien date.