California SB1437 establishes a specific valuation method for assessing property taxes on intercounty pipeline rights-of-way.
California SB1437 amends the Revenue and Taxation Code to set a specific valuation method for property taxes on intercounty pipeline rights-of-way. This method involves assigning values based on density categories and a 1975–76 base year value, adjusted for inflation. The bill specifies that values determined using this methodology are rebuttably presumed to be correct and cannot be challenged by taxpayers. It also outlines conditions under which taxpayers may not challenge assessments and provides for the dismissal of pending lawsuits related to these assessments.
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