Calif. Revenue and Taxation Code §§463 and 483
Amended by A. B. 571
Effective date: January 1, 2016
An owner of real estate is subject to penalties for failing to properly and timely file a change of ownership statement or annual property statement. The owner may now receive a penalty abatement judgment for their failure to timely file if they prove the failure was due to reasonable causes beyond their control.
Editor’s note – This bill does not provide substantial changes to existing law. Instead, it is intended to ensure penalty abatement is applied with equal standards to various property tax provisions.
