(A) The provisions of § 8-2.12 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 ratio is identical to the ratio which is required for local assessments by the provisions of Cal. Rev. & Tax. Code § 401, at which time the provisions of § 8-2.11 of this chapter shall become inoperative.
(B) In the event the provisions of § 8-2.12 of this chapter become operative, and the State Board of Equalization subsequently adopts an assessment ratio for the state-assessed property, which ratio is higher than the ratio which is required for local assessments by the provisions of Cal. Rev & Tax. Code § 401, the provisions of § 8-2.11 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 the provisions of § 8-2.12 shall be inoperative until the first day of the month following the month in which the Board again adopts an assessment ratio for state-assessed property, which ratio is identical to the ratio required for local assessments by the provisions of Cal. Rev. & Tax Code § 401, at which time the provisions of § 8-2.12 shall again become operative, and the provisions of § 8-2.11 shall become inoperative.
('61 Code, § 8-2.13) (Ord. 206 C.S., passed 10-31-73)