Land subject to a farmland security zone contract specified in Section 51296.1 of the Government Code shall be valued for assessment purposes at 65 percent of the value under Section 423 or 65 percent of the value under Section 110.1, whichever is lower.
Cal. Rev. & Tax. Code § 423.4
Valuation of Open-Space Land Subject to an Enforceable Restriction
Amended by Stats. 2002, Ch. 616, Sec. 38
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.