BUILDER'S EXCLUSION FROM PROPERTY ASSESSMENT

A reminder to all builders - If you are building for re-sale, filing an Application for Builder's Exclusion can save you money. The California Revenue and Taxation Code requires new construction be assessed and a supplemental assessment be levied when the construction is complete or available for use. However, new construction may be excluded from a supplemental assessment under certain circumstance if you are a builder. The property must be intended for sale and the builder must file the application no later than 30 days after the commencement of new construction. The exclusion applies to supplemental assessments for new construction. It does not affect the reassessment of the property for the regular roll each January 1, or any other supplemental assessments. For more information, or to obtain an application, please contact the Placer County Assessor's Office at (530) 889-4300 or write to Assessor Department, 2980 Richardson Drive, Auburn, CA 95603.

Bruce Dear

3/26/03

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