(a)
(1)Subject to the limitations set forth in subdivision (b), whenever real property has been divided into planned developments as defined in Section 11003 of the Business and Professions Code, the interests therein shall be presumed to be the value of each separately owned lot, parcel, or area, and the assessment shall reflect this value, which includes all of the following:
(A)The assessment attributable to the value of the separately owned lot, parcel, or area and the improvements thereon.
(B)The assessment attributable to the share in the common area reserved as an appurtenance of the separately owned lot, parcel, or area.
(C)The new base year value of the common area resulting from any change in ownership pursuant to Chapter 2 (commencing with Section 60) or new construction pur
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(a)
(1)
Subject to the limitations set forth in subdivision (b), whenever real property has been divided into planned developments as defined in Section 11003 of the Business and Professions Code, the interests therein shall be presumed to be the value of each separately owned lot, parcel, or area, and the assessment shall reflect this value, which includes all of the following:
(A)
The assessment attributable to the value of the separately owned lot, parcel, or area and the improvements thereon.
(B)
The assessment attributable to the share in the common area reserved as an appurtenance of the separately owned lot, parcel, or area.
(C)
The new base year value of the common area resulting from any change in ownership pursuant to Chapter 2 (commencing with Section 60) or new construction pursuant to Chapter 3 (commencing with Section 70) attributable to the share in the common area reserved as an appurtenance of the separately owned lot, parcel, or area.
(2)
For the purposes of this section, “common area” shall mean the land and improvements within a lot, parcel, or area, the beneficial use and enjoyment of which is reserved in whole or in part as an appurtenance to the separately owned lots, parcels, or areas, whether this common area is held in common or through ownership of shares of stock or membership in an owners’ association. The tax on each separately owned lot, parcel, or area shall constitute a lien solely thereon and upon the proportionate interest in the common area appurtenant thereto.
(b)
Assessment in accordance with subdivision (a) shall only be required with respect to those planned developments that satisfy both of the following conditions:
(1)
The development is located entirely within a single tax code area.
(2)
The entire beneficial ownership of the common area is reserved as an appurtenance to the separately owned lots, parcels, or areas.
(c)
The amendment to subdivision (b) made by Chapter 407 of the Statutes of 1984 shall apply to real property that has been divided into planned developments, as defined in Section 11003 of the Business and Professions Code, on and after the effective date of Chapter 407 of the Statutes of 1984.