§ 62551.2
75 words·~1 min read·
/ca/government-code/62551-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Subject to Section 4 of Article XIII A of the California Constitution, an authority may impose, by resolution, a special parcel tax on a property owner, and related affiliates, that own a rental housing portfolio that exceeds 500 units.
(b)The special tax may have graduated tax rates with incrementally higher rates applying for larger portfolios.
(c)The special tax shall be assessed annually and include exemptions for nonprofit entities and affordable housing operators.