Riverside County Municipal Code Ch. 4.104 Assessed Valuation of Replacement Property

The purpose of this chapter is to adopt and implement the provisions of California Constitution, Article XIII A, Section 2, which will allow the county to make applicable, the ability of any person over the age of fifty-five (55) years or who is severely and permanently disabled, to transfer the established base year value of original property located in another county of this state to replacement dwellings located in the County of Riverside, subject to all of the conditions and limitations set out in Revenue and Taxation Code section 69.5.

(Ord. No. 920, § 1, 8-20-2013)

This chapter is adopted pursuant to California Constitution Article XIII A, Section 2(a) and Revenue and Taxation Code section 69.5(a)(2).

(Ord. No. 920, § 2, 8-20-2013)

The assessor-county clerk-recorder shall collect a fee of eighty-five dollars ($85.00) pursuant to Revenue and Taxation Code section 69.5(i)(3) for processing a rescission claim.

(Ord. No. 920, § 3, 8-20-2013)

This chapter has been preceded by consultation between the board of supervisors and all local affected agencies within the boundaries of Riverside County through a duly noticed public hearing concerning the adoption of this chapter.

(Ord. No. 920, § 4, 8-20-2013)

This chapter is subject to each of the following requirements:

A. All claims for transfers of base year value from original property located in another county shall be granted if the claims meet the applicable requirements of both subdivision (a) of Section 2 of Article XIII A of the California Constitution and Revenue and Taxation Code section 69.5.

B. All base valuations of original property located in another county and determined by its assessor shall be accepted in connection with the granting of claims for transfer of base year value.

(Ord. No. 920, § 5, 8-20-2013)

This chapter shall remain operative for a period of not less than five (5) years following the effective date of its adoption [September 21, 2013], and continue in effect thereafter until specifically repealed, or otherwise modified as authorized by law.

(Ord. No. 920, § 6, 8-20-2013)

The provisions of this chapter are applicable to any otherwise qualified replacement dwelling which is purchased or newly constructed in the County of Riverside on and after the effective date of this chapter [September 21, 2013].

(Ord. No. 920, § 7, 8-20-2013)