Real property tax: welfare exemption: moderate-income housing.
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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 amount is calculated as a percentage of the property’s value based on the proportion of low- and moderate-income units compared to the total number of residential units. Property owners must meet specific certification requirements and local tax officials will be responsible for administering the exemption. 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 certify the use of the property and meet specific criteria.
- Expands the duties of local tax officials to administer the exemption.
- Increases the crime of perjury related to property tax filings.
- The state will not reimburse local agencies for property tax revenues lost due to the exemption.
- The bill takes effect immediately as a tax levy.
- Addresses potential conflicts with existing housing tax credit programs.
Who is affected
- Property owners of residential rental properties
- Low- and moderate-income households
Bill text
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