California BOE Issues Letter to County Assessors on Low-Value Property Tax Exemption Ordinances

July 22, 2021, 5:00 AM

The California Board of Equalization (SBOE) July 21 issued a letter to county assessors on low-value property tax exemption ordinances pursuant to A.B. 608. The measures include: 1) authorizing county governments to increase the amount of their low-value exemptions to include all possessory interests with lien dates from Jan. 1, 2020, through Jan. 1, 2024; 2) beginning with the Jan. 1, 2025, lien date, the $50,000 limit will revert back to only possessory interests with a temporary and transitory use in a publicly owned fairground and fairground, convention, or cultural facilities; and 3) requiring each county assessor to report whether ...

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