Real property tax: welfare exemption: moderate-income housing.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill amends California’s property tax law to create a partial welfare exemption for certain residential rental properties used to house low- and moderate-income households. The exemption would be calculated as a percentage of the property’s value based on the number of low- and moderate-income units compared to the total number of residential units. The bill requires property owners to certify their compliance with specific criteria, and it imposes state-mandated local programs and potential perjury penalties. Importantly, the state will not reimburse local agencies for property tax revenues lost due to this exemption.
Key provisions
- Provides a partial welfare exemption for residential rental properties used for low- and moderate-income households.
- The exemption amount is calculated as a percentage of the property’s value based on the proportion of low- and moderate-income units.
- Requires property owners to file certifications under penalty of perjury regarding property use.
- Creates state-mandated local programs and increases the crime of perjury.
- The state will not reimburse local agencies for property tax revenues lost due to the exemption.
- Addresses specific requirements for qualifying properties, including deed restrictions and market studies.
- Includes provisions related to emergency shelters and employee housing.
- Establishes a timeline for the application of certain provisions, including those related to 2000-01 fiscal year and subsequent years.
Who is affected
Bill text
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