ORDINANCE NO. ________________
Board of Supervisors, County of San Mateo, State of California
Ordinance Amending Sections 2.94.010 and 2.94.020 to Title 2, Article 2.9, Chapter 2.94 of the San Mateo County Ordinance Code raising an exemption limit for low value Personal Property from Property Taxation from the current $5,000 to $7,500 pursuant to Revenue and Taxation Code Section 155.20.
The Board of Supervisors of the County of San Mateo, State of California, ORDAINS as follows:
SECTION 1. Sections 2.94.010 and 2.94.020 of Title 2, Article 2.9, Chapter 2.94 are hereby amended as follows:
Section Exemption For Low Value Personal Property
All personal property that does not exceed seven thousand five hundred dollars ($7,500.00) in full cash value shall be exempt and shall not be entered on the roll as provided in California Revenue and Taxation Code section 155.20. This exemption applies only when the aggregate value of all personal property of a single taxpayer, or a group of taxpayers, on any one lien date does not exceed seven thousand five hundred dollars ($7,500) in full cash value.
The term “personal property” is as defined in the Revenue and Taxation Code. The term “taxpayer” means any natural person, persons, entity or entities which have a duty to pay property taxes pursuant to the California Constitution, statutory law, case law, or private or public contract, and includes, but is not limited to, corporations, partnerships, joint ventures, or other legal entities as well as trusts and trustees.
SECTION 2. This ordinance shall be effective thirty (30) days from the date of passage thereof.