155.20.
(a) Subject to the limitations listed in subdivisions (b), (c), (d), and (e), a county board of supervisors may exempt from property tax all real property with a base year value (as determined pursuant to Chapter 1 (commencing with Section 50) of Part 0.5) as adjusted by an annual inflation factor commencing on January 1, 2025, determined as provided in subdivision (a) of Section 51, 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.(b) (1) (A) The board of supervisors shall have no authority to exempt property with a total base year value or full value of more than fifteen ten thousand dollars ($15,000), ($10,000), as adjusted by an annual inflation factor commencing on January 1, 2025, determined as provided in subdivision (a) of Section 51, without regard to subparagraph (D) of paragraph (1) thereof, except as otherwise provided in subparagraph (B).
(B) The limitation specified in subparagraph (A) on the amount of the exemption authorized by this section shall be increased as follows:
(i) For lien dates occurring on or after January 1, 2020, and before January 1, 2025, the limitation is increased to fifty thousand dollars ($50,000) in the case of a possessory interest.
(ii) For lien dates occurring on or after January 1, 2025, the limitation is increased to fifty thousand dollars ($50,000) in the case of a possessory interest, for a temporary and transitory use, in a publicly owned fairground, fairground facility, convention facility, or cultural facility. For purposes of this paragraph, “publicly owned convention or cultural facility” means a publicly owned
convention center, civic auditorium, theater, assembly hall, museum, or other civic building that is used primarily for staging any of the following:
(I) Conventions, trade and consumer shows, or civic and community events.
(II) Live theater, dance, or musical productions.
(III) Artistic, historic, technological, or educational exhibits.
(iii) For lien dates occurring on or after January 1, 2024, and before January 1, 2029, the limitation is increased to fifteen thousand dollars ($15,000) in the case of property other than a possessory interest described in clause (i) or (ii), as applicable.
(2) In determining the level of the exemption, the board of supervisors shall determine at what level of exemption the costs of assessing the property and collecting taxes, assessments, and subventions on the property exceeds exceed the proceeds to be collected. The board of supervisors shall establish the exemption level uniformly for different classes of property. In making this determination, the board of supervisors may consider the total taxes, special assessments, and applicable subventions for the year of assessment only or for the year of assessment and succeeding years where cumulative revenues will not exceed the cost of assessments and collections.
(3) In administering the exemption authorized by this section, the assessor may opt either to not enroll the property on the assessment roll or to enroll the property and apply the exemption.
(c) This section does not apply to those real or personal properties enumerated in Section 52.
(d) The exemption authorized by this section shall be adopted by the board of supervisors on or before the lien date for the fiscal year to which the exemption is to apply and may, at the option of the board of supervisors, continue in effect for succeeding fiscal years. Any revision or rescission of the exemption shall be adopted by the board of supervisors on or before the lien date for the fiscal year to which that revision or rescission is
to apply.
(e) Nothing in this section shall authorize a county board of supervisors to exempt new construction, unless the new total base year value, as adjusted by an annual inflation factor commencing on January 1, 2025, determined as provided in subdivision (a) of Section 51, without regard to subparagraph (D) of paragraph (1) thereof, of the property, including this new construction, is fifteen thousand dollars ($15,000)
or less. equal to or less than the applicable of the following amounts:
(1) For lien dates occurring before January 1, 2024, or on or after January 1, 2029, ten thousand dollars ($10,000).
(2) For lien dates occurring on or after January 1, 2024, and before January 1, 2029, fifteen thousand dollars ($15,000).
(f) (1) It is the intent of the Legislature to apply the requirements of
Section 41 to the maximum exemption amount and inflation adjustment factor pursuant to subdivisions (a), (b), and (e).
(2) The goal, purpose, and objective of the act adding this subdivision are to provide individuals relief from the increased tax burden due to rising property values over the past 13 years.
(3) The performance indicators for the Legislature to use when measuring whether the act meets its goal, purpose, and objective shall be the amount of additional assessed value exempted and the number and type of taxpayers granted this expanded exemption.
(4) (A) To assist the Legislature in determining whether the expanded exemption allowed by the act fulfills the goal, purpose, and objective as described in paragraph
(2), the State Board of Equalization shall, to the extent data is available from county assessors, annually collect and report to the Legislature, pursuant to subparagraph (B), data from county assessors to quantify the additional amount of assessed value exempted and the number and type of taxpayers granted this expanded exemption.
(B) On or before June 1, 2025, and every June 1 thereafter until June 1, 2028, the State Board of Equalization shall report this information to the Legislature.
(C) A report submitted pursuant to subparagraph (B) shall be submitted in compliance with Section 9795 of the Government Code.
(D) The requirement for
submitting a report imposed under subparagraph (B) is inoperative on January 1, 2029, pursuant to Section 10231.5 of the Government Code.