Chapter 2.94 — EXEMPTION OF LOW VALUE PROPERTY

All personal property that does not exceed seven thousand five hundred dollars ($7,500.00) in full cash value shall be exempt and shall not be entered on the roll as provided in California Revenue and Taxation Code section 155.20. This exemption applies only when the aggregate value of all personal property of a single taxpayer, or a group of taxpayers, on any one lien date does not exceed seven thousand five hundred dollars ($7,500.00) in full cash value.

(Ord. 4324, 08/15/06)

(Ord. No. 04493, § 1, 4-13-2010)

The term "personal property" is as defined in the Revenue and Taxation Code. The term "taxpayer" means any natural person, persons, entity or entities which have a duty to pay property taxes pursuant to the California Constitution, statutory law, case law, or private or public contract, and includes, but is not limited to, corporations, partnerships, joint ventures, or other legal entities as well as trusts and trustees.

(Ord. 4324, 08/15/06)

(Ord. No. 04493, § 1, 4-13-2010)