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§ 20502. “Substantially Equivalent to Property Taxes” Defined.

18 CA ADC § 20502Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 3. Franchise Tax Board
Chapter 2.7. Senior Citizens Property Tax Assistance (Refs & Annos)
18 CCR § 20502
§ 20502. “Substantially Equivalent to Property Taxes” Defined.
For purposes of Revenue and Taxation Code section 20509, subdivision (a), the term “substantially equivalent to property taxes” means payments made in lieu of property taxes, as specified in Revenue and Taxation Code section 20509, subdivision (a), must be at least 80 percent of the amount of property taxes assessed on a property of comparable assessed value without regard to any granted or applicable exemptions or exclusions granted by the property taxing authority.

Credits

Note: Authority cited: Sections 19503 and 20642, Revenue and Taxation Code. Reference: Sections 20502 and 20509(a), Revenue and Taxation Code.
History
1. New section filed 3-15-2005; operative 4-14-2005 (Register 2005, No. 11).
This database is current through 11/24/23 Register 2023, No. 47.
Cal. Admin. Code tit. 18, § 20502, 18 CA ADC § 20502
End of Document