(a) Sections 1204.5, 1205.5 and 1206.6 of this ordinance shall become operative on January 1st of the year following the year in which the State Board of Equalization adopts and assessment ratio for State-assessed property which is identical to the ratio which is required for local assessments by Section 401 of the Revenue and Taxation Code, at which time Sections 1204(b)(4), 1205(b)(3), and 1206 shall become inoperative.
(b) In the event that Sections 1204.5, 1205.5 and 1206.5 of this ordinance become operative and the State Board of Equalization subsequently adopts an assessment ratio for State-assessed property which is higher than the ratio which is required for local assessments by Section 401 of the Revenue and Taxation Code, Sections 1204(b)(4), 1205(b)(3), and 1206 shall become operative on the first day of the month next following the month in which such higher ratio is adopted, at which time Sections 1204.5, 1205.5 and 1206.5 of this ordinance 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 is identical to the ratio required for local assessments by Section 401 of the Revenue and Taxation Code, at which time Sections 1204.5, 1205.5 and 1206.5 shall become operative and Sections 1204(b)(4), 1205(b)(3) and 1206 shall become inoperative.
(Ord. 363-58, App. 6/23/58; amended by Ord. 352-84, App. 8/8/84)