California Revenue and Taxation Code

§ 5813

RTC § 5813 Effective Jan 1, 2003Div. 1 · Part 13 · Ch. 2

Statute text

For each lien date after the lien date for which the base year value is determined, the taxable value of a manufactured home shall be the lesser of:

(a)Its base year value, compounded annually since the base year by an inflation factor, which shall be the percentage change in the cost of living, as defined in Section 51, provided, that any percentage increase shall not exceed 2 percent of the prior year’s value; or

(b)Its full cash value, as defined in Section 5803, as of the lien date, taking into account reductions in value due to damage, destruction, depreciation, obsolescence, or other factors causing a decline in value; or

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Legislative history

Amended by Stats. 2002, Ch. 775, Sec. 40. Effective January 1, 2003.