The person to whom the property or a tax is assessed

Homeowner Exemption
A value reduction provided to homeowners pursuant to Revenue and Taxation Code 218.

Lien Date
The time when the taxes become a lien on property and the time as of which property is valued for tax purposes. 12:01 a.m. on January 1 preceding the fiscal year for which taxes are collected.

Net Assessed Value
Total assessed value less all exemptions including homeowners.

Personal Property
Personal property is defined as all property except real property. Personal property is either tangible or intangible. Generally, all tangible personal property is taxable except where specific exemptions are provided. Tangible personal property is any property, except land or improvements, that may be seen, weighted, measured, felt, or touched, or which is in any other manner perceptible to the senses.

Examples of taxable tangible personal property include portable machinery and equipment, office furniture, tools, and supplies. Examples of nontaxable tangible personal property are household goods and personal effects, noncommercial boats worth $2,000 or less, and goods held for sale or lease in the ordinary course of business (inventories).

Possessory Interests
An interest in real property that exists as a result of possession, exclusive use, or a right to possession or exclusive use of land and/or improvements unaccompanied by either ownership of the land in fee simple or a life estate in the property. A possessory interest becomes taxable when the interest is held in nontaxable publicly owned real property. There is no possessory interest tax placed on the use of publicly owned personal property.

Examples of taxable possessory interest include permitted use of U.S. Forest Service property such as ski resorts, stores, and cabins; harbor leases; boat-slips at public marinas; tie-downs at public airports; grazing land permits; employee housing on tax-exempt land; and mineral rights in public lands.

Real Property
Real estate or real property includes:

  1. The possession of, claim to, ownership of, or right to the possession of land.
  2. All mines, minerals, and quarries in the land, all standing timber whether or not belonging to the owner of the land, and all rights and privileges appertaining thereto.
  3. Improvements

Supplemental Assessment
A property tax levy made in accordance with Chapter 3.5 of Part .5 of Division 1 of the Revenue and Taxation Code. Supplemental assessments are levied whenever a property, or a portion thereof, changes ownership or experiences new construction.

Supplemental Assessment Roll
Contains a listing of all property that has undergone a change in ownership or experienced now construction.
The amount of each supplemental assessment is the difference between the property's new base year value, determined as of the date of change in ownership or completion of new construction, and the existing taxable value.