Effective Date for California Property Tax Rules Announced

Wednesday, July 5, 2006 - 3:30PM

The California State Board of Equalization announced that the effective date for California Property Tax Rules 140140.1140.2 and 143 is July 23, 2006. These rules govern the availability of the property tax exemption for affordable housing developments that are owned by partnerships with both a not-for-profit general partner and a for-profit general partner. It was previously expected that the rules would not become effective until 2007. This development and its impact will be discussed at Novogradac & Company LLP's 13th Annual San Francisco Affordable Housing Conference September 13-15.

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