Upon meeting the requirements of this chapter, the base year value of original property
located in another county in California will be transferred to a comparable replacement
property, including land, of equal or lesser value in Contra Costa County, when the
replacement property is acquired or newly constructed by the owner of the original
property within three years after the original property is substantially damaged or
destroyed. The base year value transferred shall be the base year value of the original
property, as determined in accordance with Section 110.1 of the Revenue and Taxation
Code, with the adjustments permitted by subdivision (b) of Section 2 of Article XIIIA
of the California Constitution and subdivision (f) of Section 110.1, determined as
of the date immediately prior to the date that the original property was substantially
damaged or destroyed. The base year value of the original property shall also include
any inflation factor adjustments permitted by subdivision (f) of Section 110.1 for
the period subsequent to the date of the substantial damage to, or destruction of,
the original property and up to the date the replacement property is acquired or newly
constructed. The base year or years used to compute the base year value of the original
property shall be deemed to be the base year or years of any property to which that
base year value is transferred pursuant to this chapter.
(Ord. 94-56 § 1).
Article 66-7.6 Procedures
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