AB 1235

Bill Subjects

Property Taxation New Construction

Abstract

The California Constitution generally limits ad valorem taxes on real property to 1% of the full cash value of that property. For purposes of this limitation, "full cash value" is defined as the assessor's valuation of real property as shown on the 1975–76 tax bill under "full cash value" or, thereafter, the appraised value of that real property when purchased, newly constructed, or a change in ownership has occurred. Pursuant to constitutional authorization, existing property tax law excludes from the definition of "newly constructed" for these purposes the construction or addition of an active solar energy system, as defined, through the 2025–26 fiscal year. This bill would make a nonsubstantive change to these provisions.