California AB1294 proposes a partial real property tax exemption for moderate-income housing in Alameda, Sacramento, and San Francisco counties.

California AB1294 amends the Revenue and Taxation Code to provide a partial real property tax exemption for moderate-income housing in Alameda, Sacramento, and San Francisco counties. This exemption applies to properties with residential units constructed or converted from commercial use between January 1, 2027, and January 1, 2030. To qualify, the property must be owned and operated by nonprofit organizations, and the units must serve low- and moderate-income households.

California AB1294 proposes a partial real property tax exemption for moderate-income housing in Alameda, Sacramento, and San Francisco counties.

California AB1294 amends the Revenue and Taxation Code to provide a partial real property tax exemption for moderate-income housing in Alameda, Sacramento, and San Francisco counties. This exemption applies to properties with residential units constructed or converted from commercial use between January 1, 2027, and January 1, 2030. To qualify, the property must be owned and operated by nonprofit organizations, and the units must serve low- and moderate-income households.