Nothing in this article shall prevent the board or the assessor, in valuing open-space land for assessment purposes from taking into consideration the existence of any mines, minerals and quarries in or upon the land being valued, including, but not limited to oil, gas, and other hydrocarbon substances.
Cal. Rev. & Tax. Code § 427
Valuation of Open-Space Land Subject to an Enforceable Restriction
Added by Stats. 1969, Ch. 862.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.