Cal. Code Regs. tit. 18 § 20502

Current through Register 2024 Notice Reg. No. 52, December 27, 2024

Section 20502 - "Substantially Equivalent to Property Taxes" Defined

For purposes of Revenue and Taxation Code section 20509, subdivision (a), the term "substantially equivalent to property taxes" means payments made in lieu of property taxes, as specified in Revenue and Taxation Code section 20509, subdivision (a), must be at least 80 percent of the amount of property taxes assessed on a property of comparable assessed value without regard to any granted or applicable exemptions or exclusions granted by the property taxing authority.

Cal. Code Regs. Tit. 18, § 20502

1. New section filed 3-15-2005; operative 4-14-2005 (Register 2005, No. 11).

Note: Authority cited: Sections 19503 and 20642, Revenue and Taxation Code. Reference: Sections 20502 and 20509(a), Revenue and Taxation Code.

1. New section filed 3-15-2005; operative 4-14-2005 (Register 2005, No. 11).