California Revenue and Taxation Code

§ 401.6

RTC § 401.6 Effective Jan 1, 1996Div. 1 · Part 2 · Ch. 3 · Art. 1

Statute text

(a)In any case in which the cost approach method is used to value special use property for purposes of taxation, the assessor shall not add a component for entrepreneurial profit unless he or she has market-derived evidence that entrepreneurial profit exists and has not been fully offset by physical deterioration or economic obsolescence.

(b)For purposes of this section:

(1)“Entrepreneurial profit” means either of the following:

…

Legislative history

Added by Stats. 1995, Ch. 399, Sec. 1. Effective January 1, 1996.