California Revenue and Taxation Code

§ 135

RTC § 135Div. 1 · Part 1 · Ch. 1

Statute text

(a)“Assessed value” shall mean 25 percent of full value to and including the 1980–81 fiscal year, and shall mean 100 percent of full value for the 1981–82 fiscal year and fiscal years thereafter.

(b)“Tax rate” shall mean a rate based on a 25 percent assessment ratio and expressed as dollars, or fractions thereof, for each one hundred dollars ($100) of assessed valuation to and including the 1980–81 fiscal year, and shall mean a rate expressed as a percentage of full value for the 1981–82 fiscal year and fiscal years thereafter.

(c)Whenever this code requires comparison of assessed values, tax rates or property tax revenues for different years, the assessment ratios and tax rates shall be adjusted as necessary so that the comparisons are made on the same basis and the same amount of tax revenues would be produced or the same relative value of an exemption or subvention will be realized regardless of the method of expressing tax rates or the assessment ratio utilized.

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Legislative history

Added by Stats. 1978, Ch. 1207.