AB 613 (González, Mark D) Property taxation: assessment: affordable commercial property.

Current Text: Amended: 3/24/2025 
Last Amend: 3/24/2025
Status: 3/25/2025-Re-referred to Com. on Rev. & Tax.
Location: 3/24/2025-A. REV. & TAX
Summary: Current law requires the county assessor to consider, when valuing real property for
property taxation purposes, the effect of any enforceable restrictions to which the use of the land may
be subjected, including, but not limited to, zoning, recorded contracts with governmental agencies, and
various other restrictions imposed by governments. This bill would add to the above-described
enforceable restrictions certain renewable leases between a commercial community ownership entity,
as defined, that owns the land and a community-serving small business or nonprofit, as defined.