Rev. & Tax. Code, § 423.5 · Article 1.5. Valuation of Open-Space Land Subject to an Enforceable Restriction
Rev. & Tax. Code, § 423.5
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
When valuing open-space land which is enforceably restricted and used for the production of timber for commercial purposes, the county assessor shall not consider sales data on lands, whether or not enforceably restricted, but shall determine the value of such timberland to be the present worth of the income which the future harvest of timber crops from the land and the income from other allowed compatible uses can reasonably be expected to yield under prudent management. The value of timberland pursuant to this section shall be determined in accordance with rules and regulations issued by the board. In determining the value of timberland pursuant to this section, the board and the county assessor shall use the capitalization rate derived pursuant to subdivision (b) of Section 423. The ratio prescribed in Section 401 shall be applied to the value of the land determined in accordance with this section to obtain its assessed value.
For the purposes of this section, the income of each acre of land shall be presumed to be no less than two dollars ($2), and the present worth of this income shall not be reduced by the value of any exempt timber on the land.
There shall be a rebuttable presumption that “prudent management” does not include use of the land for recreational use, as defined in subdivision (n) of Section 51201 of the Government Code, unless the land is actually devoted to such use.
Notes and commentary — not statutory text
History
Amended by Stats. 1984, Ch. 678, Sec. 21.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=423.5.
- Text hash
- sha256 7b9fc8dcc65e4eef932314eec85909505f3b1a44d945b2b4567975766d3d11d4
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Revenue and Taxation Code
Cited by 8 provisions
Provisions in this library whose text cites Rev. & Tax. Code, § 423.5. Each shows the citation as that text prints it.
Government Code
- Gov. Code, § 16140Printed as Sections 423, 423.3, 423.4, and 423.5 of the Revenue and Taxation Code
- Gov. Code, § 16141Printed as Sections 423, 423.3, 423.4, and 423.5 of the Revenue and Taxation Code
- Gov. Code, § 16142.5Printed as Section 423 or 423.5 of the Revenue and Taxation Code | Section 423, 423.3, or 423.5 of the Revenue and Taxation Code
- Gov. Code, § 16145Printed as Section 423, 423.3, or 423.5 of the Revenue and Taxation Code
- Gov. Code, § 16146Printed as Section 423, 423.3, 423.4, or 423.5 of the Revenue and Taxation Code
- Gov. Code, § 51244Printed as Section 423, 423.3, 423.4, or 423.5 of the Revenue and Taxation Code
- Gov. Code, § 51246Printed as Section 423.5 of the Revenue and Taxation Code
Revenue and Taxation Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.