Real property taxation: land value taxation study.

The California Constitution provides that all property is taxable, and requires that it be assessed at the same percentage of fair market value, unless otherwise provided by the California Constitution or federal law. Existing law governs the methods and procedures for assessing real property. This bill would require the California Department of Tax and Fee Administration to conduct or commission a study on the efficacy of a statewide land value taxation system as an alternative to the current appraisal methods utilized for real property taxation. The bill would require the study to be provided to the Legislature by January 1, 2025. The bill would make related findings and declarations.