HomeMy WebLinkAbout19-283RESOLUTION AUTHORIZING LOW -VALUE EXEMPTION FROM TAXATION OF POSSESSORY INTERESTS
WHEREAS, the valuation of possessory interests is a complex assessment function due to the difficulty of obtaining
public agency cooperation in identifying and annualizing the rents paid by vendors and other users of tax-exempt
governmental property; and
WHEREAS, Section 155.20 of the Revenue and Taxation Code authorizes a county board of supervisors to exempt
from property tax real property with a factored base year value and personal property with a full value so low
that, if not exempt, the total taxes, special assessments and applicable subventions on the property would amount
to less than the cost of assessing and collecting them; andl
WHEREAS, Resolution 07-165 was passed by the Butte County Board of Supervisors on October 23, 2007,
authorizing low -value exemption from taxation of all temporary and transitory possessory interests having a base
year or full value of $50,000, or less, located in a publically-owned fairground or fairground facility; and
WHEREAS, Assembly Bill 608 signed by the Governoriuly 12, 2019, amended Revenue and Taxation Code Section
155.20 to authorize the county board of supervisors to raise the low -value exemption limit to $501,000 on all
possessory interests; and
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors, pursuant to Revenue and Taxation
Code Section 155.20, all possessory interests with a factored base year value or full value of $50,000 or Bess shall
be exempt from assessment and taxation.
NOW, BE IT FURTHER RESOLVED, that Resolution 07-165 is Superseded by this Resolution beginning with
Assessment Year 2020-21.
PASSED AND ADOPTED by the Butte County Board of Supervisors this 5th day of November, 2019, by the following
vote:
AYES: Supervisors Connelly, ILucero, Ritter, Teeter, and Chair Lambert
NOES:
ABSENT*
NOT VOTING:
Steve Lambe , hair
Butte County Board of Supervisors
ATTEST:.
Shari McCracken, Chief Administrative Officer
and Cle k of th and of Supervisors
By:
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