(a) Subject to the provisions of Revenue and Taxation Code section 75.55, the assessor may cancel any supplemental assessment where that assessment would result in an amount of taxes of twenty dollars ($20) or less.
(b) Subject to the provisions of Revenue and Taxation Code section 155.20, all real property with a base year value, and all personal property with a full value, of five thousand dollars ($5,000) or less may be exempted from property taxation except that this limitation is increased to fifty thousand dollars ($50,000) in the case of a possessory interest for a temporary and transitory use in a publicly owned fairground, fairground facility, conventional facility, or cultural facility.
(c) Subject to the provisions of Revenue and Taxation Code section 531.9, the assessor shall not make an escape assessment of any appraisal unit where that assessment would result in an amount of taxes of fifty dollars ($50) or less.
(d) The provisions of this section shall apply to the 2012/13 fiscal year and each year thereafter. (§ 1, Ord. 1293, eff. December 26, 2002, as amended by § 1, Ord. 1417, eff. January 1, 2012)