TAXABLE VALUE:
The value upon which your taxes are
calculated. This is normally the base year value of the property
established in accordance with Proposition 13 plus the annual inflation
factor, or current market value, whichever is lower.
BASE YEAR:
The base year value for property in
California is 1975 or the year in which property has transferred
or been newly constructed. The Assessor determines the full cash
value of property on its base year date. This base year value will
be factored by an inflationary factor not to exceed 2 percent each
year until the property is transferred at which time a new base year
is established. A new base year is also established for new construction.
FULL CASH VALUE:
Full Cash Value or Fair Market Value
means the amount of cash or its equivalent which property would bring
if exposed for sale in the open market under conditions of which
neither buyer nor seller take advantage of the other.
ASSESSMENT ROLL:
The official list of all assessable
property in the County as of the lien date.
LIEN DATE:
The "moment" of valuation for all property.
The assessed value of the property as of 12:01 a.m. on January 1
governs the tax status for the fiscal year beginning the following
July 1.
REAL PROPERTY:
Land and improvements.
IMPROVEMENTS:
All buildings, structures, fixtures,
pools, fences, etc., secured to the land, including taxable mobile
homes and taxable trees and vines.
PERSONAL PROPERTY:
All other property subject to the general
property tax but not considered land or improvements (such as boats,
aircraft and business personal property).
SECURED PROPERTY:
Property on which the property taxes
are a lien against real estate.
UNSECURED PROPERTY:
Property on which the property taxes
are not a lien against real estate (office furniture, machinery,
equipment, boats, airplanes, etc.) NOTE: Business inventory is now
exempt from taxation.
SPECIAL ASSESSMENTS:
Direct charges against property which
are included in the total amount of your tax bill but are not determined
by the Assessor. They are determined by the special district or agency.
Ambulance special tax, Mello-Roos, CFD special tax and solid waste
management are examples of direct charges.
