Property taxation: intercounty pipeline: right-of-way assessment: full cash value.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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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 extends a current law that provides a rebuttable presumption that intercounty pipeline right-of-way values are at full cash value. Specifically, it applies this presumption to assessments for the 2030-31 fiscal year. The valuation is based on a 1975-76 base year value adjusted for inflation, using density classifications established by the State Board of Equalization, and includes provisions for multiple pipelines and abandoned pipelines. Taxpayers will have limited ability to challenge these assessed values.
Key provisions
- Extends the rebuttable presumption for full cash value assessments of intercounty pipeline right-of-way to the 2030-31 fiscal year.
- Establishes valuation based on a 1975-76 base year value adjusted for inflation.
- Uses density classifications (High, Transitional, Low) determined by the State Board of Equalization to calculate value.
- Provides a mechanism for valuing multiple pipelines within a right-of-way.
- Addresses abandoned pipelines within a right-of-way, adjusting assessed values accordingly.
- Limits taxpayer challenges to assessed values for intercounty pipeline right-of-way.
- Specifies valuation standards for determining the value of the right-of-way.
- Creates a limited exception for escape assessments for specific pipeline taxpayers.
Who is affected
- Pipeline companies
- County assessors
- Property owners with pipelines
Bill text
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Sponsors
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1 on record
Primary sponsor
Committee on Revenue and Taxation
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