Property taxation.

(1) The California Constitution generally limits ad valorem taxes on real property to 1% of the full cash value of that property. For purposes of this limitation, "full cash value" is defined as the assessor's valuation of real property as shown on the 1975–76 tax bill under "full cash value" or, thereafter, the appraised value of that real property when purchased, newly constructed, or a change in ownership has occurred. Existing property tax law specifies those circumstances in which the transfer of ownership interests results in a change in ownership of the real property, and provides that certain transfers do not result in a change of ownership. This bill would make technical, nonsubstantive changes to this provision and would update a cross-reference. (2) Under existing law, a county board of supervisors, or one or more assessment appeals boards created by the county board of supervisors, constitutes the county board of equalization for a county. Existing property tax law specifically authorizes the board of supervisors of any county to create an assessment appeals board to equalize the valuation of taxable property within the county for the purpose of taxation. Existing property tax law authorizes counties to adopt ordinances that allow assessees whose property was damaged or destroyed to apply for a reassessment of that property, as provided, if certain conditions are met. Existing law authorizes an applicant to appeal the proposed reassessment to the local board of equalization, and requires a board to hear and decide the matter, as prescribed. This bill would clarify that appeal is made to either the county board of supervisors acting as the county board of equalization, or an assessment appeals board established by the county board of supervisors in accordance with existing law, as applicable. (3) Existing law authorizes the Department of Parks and Recreation to enter into an operating agreement with a qualified nonprofit organization for specified purposes, and existing property tax law provides that a qualified nonprofit corporation that has entered into an agreement with the Department of Parks and Recreation is deemed to be an agent of the state for purposes of property taxation, and that any state-owned property, including possessory interests in that property, used or possessed by the qualified nonprofit organization, as specified, would be exempt from taxation under the exemption for property owned by the state. This bill would correct a reference from "qualified nonprofit corporation" to "qualified nonprofit organization." (4) Existing law authorizes a city, county, or city and county to create historic zones and to contract with the owner of qualified historical properties within these zones to restrict the use of the property for a minimum period of 10 years, and establishes methods for the property tax valuation of any property so restricted during the contract period on a basis that is consistent with its restrictions and uses. This bill would correct an incorrect reference to a federal agency in these provisions.