Part 8DETERMINATION OF TRUE VALUE

Section § 2980

Explanation

This section explains how the 'true value' of a piece of property is determined for legal purposes. The legislative body assigns a value to land and its improvements (like buildings), which is final unless there's fraud involved. They can use the property's full cash value from the county's records as a reference, but they also have the freedom to use other reasonable methods to find out its fair market value.

(a)CA Streets and Highways Code § 2980(a) As used in this division, the “true value of parcels” and the “true value of each parcel” means the fair market value of the land and improvements thereon, as determined by the legislative body. The determination of the legislative body shall be final and conclusive in the absence of fraud.
(b)CA Streets and Highways Code § 2980(b) The legislative body may determine that the fair market value of the land and improvements is their full cash value as defined by Article XIII A of the California Constitution and as shown upon the last equalized assessment roll of the county. However, this subdivision does not prevent the legislative body from determining fair market value by other reasonable means.
true value fair market value land improvements legislative body fraud full cash value Article XIII A California Constitution assessment roll property valuation county records determination of value final decision reasonable means valuation methods
(Amended by Stats. 1984, Ch. 1298, Sec. 9.)