§ 532.2. — 532.2. (Amended by Stats. 1992, Ch. 1180, Sec. 7.)

California § 532.2.

• Jurisdiction: California
• Code RTC: Revenue and Taxation Code - RTC
• Div. 1.: DIVISION 1. PROPERTY TAXATION
• Part 2.: PART 2. ASSESSMENT
• Ch. 3.: CHAPTER 3. Assessment Generally
• Art. 4.: ARTICLE 4. Property Escaping Assessment

Text

Notwithstanding Section 532, the assessor shall assess as escaped property any property for which a welfare exemption was granted while that property was “in the course of construction,” as defined in Section 214.2, if either of the following occurs:
(a)
Construction is abandoned.
(b)
Upon completion of the construction, the property is used other than exclusively for religious, hospital, or charitable purposes. If, upon completion of construction, a portion of the property is used other than exclusively for religious, hospital, or charitable purposes, the assessor shall assess as escaped property only that portion of the property so used.

Legislative History

Amended by Stats. 1992, Ch. 1180, Sec. 7. Effective January 1, 1993.