AB 1243: Property taxation: exemptions.

The California Constitution provides that all property is taxable, and requires that it be assessed at the same percentage of fair market value, unless otherwise provided by the California Constitution or federal law. The California Constitution exempts from taxation, among other types of property, growing crops, property used for free public libraries and free museums, property used exclusively for public schools, community colleges, state colleges, and state universities, and property belonging to the state or a local government.

Existing property tax law provides that these exemptions are as specified in the California Constitution, except as otherwise provided under certain other provisions of the California Constitution.

This bill would make nonsubstantive changes to the statutory provisions implementing those exemptions.