CA SB434

Authorizes assessors to transfer manufactured homes subject to vehicle license fees to local property taxation when the home has been rebuilt to the substantial equivalent of a new residential structure with a completion date of January 1, 2016, or later and is no longer transportable.

Requires assessors to notify the assessee, Department of Housing and Community Development, and any legal owner when a manufactured home is to be placed on the local assessment roll.

Sets the base year value of a manufactured home converted under this provision to its full cash value on the date of completion of new construction, making it subject to supplemental assessment.

Requires the Department of Housing and Community Development to transfer the manufactured home to local property taxation upon notification by the assessor.

Requires a 2/3 vote for passage as it results in higher property taxes and takes effect immediately as a tax levy.