California Governor Signs Law Concerning Property Taxation of Certain Affordable Rental Housing Properties

The California Governor signed a law concerning property taxation, the welfare exemption, delinquent payments, and interest and penalties. The law includes providing that property owners developing affordable rental housing that qualify for the welfare exemption from property tax are not liable for penalties and interest on delinquent property taxes under certain condition. [A.B. 2353, enacted 09/25/24]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.