California AB1294 amends real property tax laws to provide a partial exemption for certain moderate-income housing developments.

California AB1294 amends the Revenue and Taxation Code to provide a partial real property tax exemption for certain housing developments serving moderate-income households. This exemption applies to properties in Alameda, Sacramento, and San Francisco counties. To qualify, properties must be owned by religious, hospital, scientific, or charitable organizations and used exclusively for housing. The exemption is equal to the percentage of units serving moderate-income households relative to the total units.

California AB1294 amends real property tax laws to provide a partial exemption for certain moderate-income housing developments.

California AB1294 amends the Revenue and Taxation Code to provide a partial real property tax exemption for certain housing developments serving moderate-income households. This exemption applies to properties in Alameda, Sacramento, and San Francisco counties. To qualify, properties must be owned by religious, hospital, scientific, or charitable organizations and used exclusively for housing. The exemption is equal to the percentage of units serving moderate-income households relative to the total units.