LEGISLATIVE COUNSEL'S DIGEST


SB 1047, as introduced, Correa. Property taxation: mobilehomes.
Existing property tax law requires the reassessment at fair
market value of real property upon a change in ownership, and
specifies those transfers of real property that constitute a change
in ownership. Existing law excludes from classification as a change
in ownership, subject to certain conditions, any transfer made, on or
after January 1, 1985, of a mobilehome park to a nonprofit
corporation, stock cooperative corporation, limited equity stock
cooperative, or other entity formed by the tenants of the park for
the purpose of purchasing the park. Existing law classifies as a
change in ownership any subsequent transfer of any portion of that
same mobilehome park, on and after January 1, 1989, that is not for
the purpose of converting ownership of the park in a specified
manner.
This bill would make a technical, nonsubstantive change to this
provision.