California Health and Safety Code 33673 – Whenever property in any redevelopment project has been redeveloped …
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Whenever property in any redevelopment project has been redeveloped and thereafter is leased by the redevelopment agency to any person or persons or whenever the agency leases real property in any redevelopment project to any person or persons for redevelopment, the property shall be assessed and taxed in the same manner as privately owned property, and the lease or contract shall provide that the lessee shall pay taxes upon the assessed value of the entire property and not merely the assessed value of his or its leasehold interest.
(Added by Stats. 1963, Ch. 1812.)
Terms Used In California Health and Safety Code 33673
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- taxes: shall include , but without limitation, all levies on an ad valorem basis upon land or real property. See California Health and Safety Code 33672