Property Tax Alert: California

May 2006

The lower income family household income limits for 2005 that are used for affidavits filed for the 2006-2007 claim year on leased property used exclusively for low-income rental housing and tribal owned low-income rental housing eligible for property tax exemption have been issued by the California Department of Housing and Community Development. Exemption claimants must file affidavits that list tenants' income levels. Those levels are compared to the income limits issued by the Department to determine the portion of property eligible for exemption. The determination of qualifying units is based on the use of the property on the lien date.

Please contact Rash & Associates for more information.