Property taxation: equalized assessment roll: aircrafts.

Existing property tax law generally requires the county auditor, in each fiscal year, to allocate property tax revenues to local jurisdictions in accordance with specified formulas and procedures, and generally requires that each jurisdiction be allocated an amount equal to the total of the amount of revenue allocated to that jurisdiction in the prior fiscal year, subject to certain modifications, and that jurisdiction's portion of the annual tax increment. Under existing law, "annual tax increment" is defined as the difference between the total amount of property tax revenue computed each year using the equalized assessment roll and the sum of the amounts allocated pursuant to specified provisions. This bill would specify that for purposes of calculating the annual tax increment, including for purposes of apportioning property tax revenues, commencing with the 2022–23 fiscal year, the equalized assessment roll shall exclude aircraft assessed values, as provided. The bill would also direct any counties that did not exclude aircraft assessed values from the equalized assessment roll prior to the 2022–23 fiscal year to exclude aircraft assessed values from the equalized assessment roll for the 2021–22 fiscal year solely for purposes of determining the annual tax increment for the 2022–23 fiscal year. By adding to the duties of local officials, the 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.