§ 66-7.404. Transfer of base year values.  


Latest version.
  • 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