Tax & Accounting Blog

Update to California Section 410 Assessment of Newly Constructed Property

Blog, ONESOURCE, ONESOURCE Property Tax May 30, 2014

On May 22, 2014, the California State Board of Equalization adopted a new section for the Assessors’ Handbook: Section 410, Assessment of Newly Constructed Property.

The new section is a compilation of information included in the Revenue & Taxation Code statutes, property tax rules, and court cases as they relate to newly constructed property under the provisions of Proposition 13. Topics include valuation, procedures, construction in progress on the lien date, exclusions, base year value transfers, and new construction issues pertaining to various property types.

The new handbook section is posted on the BOE website at: www.boe.ca.gov/proptaxes/ahcont.htm