California Supreme Court
Joseph E. Holland, as Assessor v. Assessment Appeals Board No. 1, Defendant And…
January 23, 201458 Cal. 4th 482
Summary
The court held that Revenue and Taxation Code section 62.1, subdivision (b) identifies the fractional portion of a resident-owned mobilehome park whose transfer triggers reassessment, but does not prescribe a formula for appraising that interest. Because the Assessment Appeals Board incorrectly treated the statute as mandating a particular valuation formula, the court reversed and remanded. Justice Werdegar, concurring, agreed that the statute does not mandate the Board's formula but questioned whether the assessor's extraction method values the correct property interest.