California Law (Last Updated: March 4, 2014) |
Revenue and Taxation Code - RTC |
Division 1. PROPERTY TAXATION |
Part 2. ASSESSMENT |
Chapter 3. Assessment Generally |
ARTICLE 3. Arbitrary and Penal Assessments |
Section 504.
Latest version.
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There shall be added to any assessment made pursuant to Section 502, except those assessments as are placed on the current roll prior to the time it is originally completed and published, a penalty of 25 percent of the additional assessed value so assessed.
(Amended by Stats. 1996, Ch. 1087, Sec. 22. Effective January 1, 1997.)