If property subject to a special tax levied pursuant to this Chapter is acquired by the City or any public entity through eminent domain proceedings, the obligation to pay the special tax shall be treated, pursuant to Section 1265.250 of the California Code of Civil Procedure, as if it were a special annual assessment. For this purpose, the present value of the obligation to pay a special tax to pay the principal and interest on any debt incurred by the District prior to the date of apportionment determined pursuant to California Revenue and Taxation Code Section 5082 shall be treated the same as a fixed lien special assessment.
If the City or a local agency owning property, which is exempt from a special tax pursuant to Subsection E. of Section 6.702, grants a leasehold or other possessory interest in the property of a nonexempt person or entity, the special tax shall, notwithstanding Subsection E., be levied on the leasehold or other possessory interest and shall be payable by the owner of the leasehold or possessory interest. When entering into a lease or other written contract creating a possessory interest that may be subject to taxation pursuant to this Section 6.710, and the special tax would be collected by the Los Angeles County Assessor, the City or local agency shall include, or cause to be included, in the contract a statement that the property interest may subject to special taxation pursuant to this chapter, and that the party in whom the possessory interest is vested may be subject to the payment of special taxes levied on the interest. Failure to comply with the requirements of this section shall not, however, invalidate the contract.
SECTION HISTORY
Added by Ord. No. 177,051, Eff. 11-20-05.
Amended by: Title amended and second para. added, Ord. No. 177,974, Eff. 12-3-06; Second para., Ord. No. 179,539, Eff. 3-2-08.