(A) Section 3.08.130 of this chapter shall become operative on January 1 of the year following the year in which the State Board of Equalization adopts an assessment ratio for state-assessed property which is identical to the ratio which is required for local assessments by Cal. Rev & Tax Code § 401, at which time § 3.08.120 shall become inoperative.
(B) In the event that § 3.08.130 becomes operative and the State Board of Equalization subsequently adopts an assessment ratio for the state-assessed property which is higher than the ratio which is required for local assessments by Cal. Rev & Tax Code § 401, § 3.08.120 of this chapter shall become operative on the first day of the month next following the month in which such higher ratio is adopted, at which time § 3.08.130 of this chapter shall be inoperative until the first day of the month following the month in which the Board again adopts an assess-ment ratio for state-assessed property which is identical to the ratio required for local assessments by Cal. Rev & Tax Code § 401, at which time § 3.08.130 shall again become operative and § 3.08.120 shall become inoperative.
('86 Code, § 3.08.140) (Ord. 3595, passed - - )