Contra Costa County Municipal Code Ch. 66-8 Possessory Interest Reporting

The purpose of this chapter is to effectuate Revenue and Taxation Code Section 480.4 (Chapter 872, Statutes 1984) in order to require the owners of tax-exempt real property to report to the assessor, within sixty days, the creation, renewal, sublease or assignment of any lease, sublease, license, use permit or other document which conveys the right to use that real property, so that the assessor may determine if the transaction has created a taxable possessory interest.

(Ord. 85-6 § 1).

Article 66-8.4. Reporting

Within sixty days of closing date of the transaction, every owner of tax- exempt real property shall report to the assessor the creation, renewal, sublease, or assignment of any lease, sublease, license, use permit, or other document which conveys the right to use that real property. The report shall include all of the following:

(1) The name and address of the owner;

(2) The names and addresses of all other parties to the transaction, including an identification of each party and of each party's possessory interest;

(3) The type of transaction, whether creation, renewal, sublease or assignment;

(4) A description of the property;

(5) The date of the transaction;

(6) The terms of the transaction, including all of the following:

(A) The consideration for the possessory interest, whether paid in money or otherwise,

(B) The term of the possessory interest, including any renewal or extension options,

(C) If a sublease, the original term, the remaining term, and the consideration paid for the master lease,

(D) If an assignment, the original term, the remaining term, and the consideration paid for the underlying lease.

(Ord. No. 2024-23, § III(Exh. A), 12-3-24; Ord. 85-6 § 1).

Article 66-8.6. Duration

This chapter shall remain in effect only until January 1, 1991, and as of that date is repealed, unless a later-enacted statute deletes or extends that date. Should a later-enacted statute delete or extend that date, this chapter shall continue in effect, subject to any time limitation set forth in the later-enacted statute.

(Ord. 85-6 § 1).