Property taxation: change in ownership: mobilehome parks.

The California Constitution generally limits the amount of ad valorem tax on real property to 1% of the full cash value of that property and defines "full cash value" as the county assessor's valuation of real property as shown on the 1975–76 tax bill under "full cash value" or, thereafter, the appraised value of real property when purchased, newly constructed, or a change in ownership has occurred. Existing property tax law provides that specified transfers are not deemed a change in ownership. This bill, for property tax lien dates occurring on and after January 1, 2018, would also exclude from the definition of "change in ownership" the transfer of a mobilehome park that is restricted to persons 55 years of age and older. By changing the manner in which local assessors determine when a change in ownership occurs, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. Existing law requires the state to reimburse local agencies annually for certain property tax revenues lost as a result of any exemption or classification of property for purposes of ad valorem property taxation. This bill would provide that, notwithstanding those provisions, no appropriation is made and the state shall not reimburse local agencies for property tax revenues lost by them pursuant to the bill. This bill would take effect immediately as a tax levy.