California AB1668 amends property tax laws to exempt certain conservation properties from taxation.
California AB1668 amends the Revenue and Taxation Code to exempt properties used for the preservation of native plants, animals, and open-space lands from property taxes. The bill specifies that these properties must be owned and operated by scientific or charitable organizations, and must be open to the public under reasonable restrictions. The exemption does not apply to properties reserved for future development or to organizations owning more than 30,000 acres in one county. The bill also mandates annual reporting on the total acreage and assessed value of exempt properties.
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