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DIVISION 1. PROPERTY TAXATION 50-5911›PART 2. ASSESSMENT 201-1367›CHAPTER 3. Assessment Generally 401-681›ARTICLE 1. General Requirements 401-409

§ 402.9

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

In valuing property for persons of low and moderate income that is financed under Section 236 or Section 515 of the federal National Housing Act, since federal restrictions accompanying these programs substantially affect actual income and expenses of the property owner, the assessor shall not consider as income any interest subsidy payments made to a lender on that property by the federal government.

(Amended by Stats. 1999, Ch. 941, Sec. 10. Effective January 1, 2000.)

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California Revenue and Taxation Code

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