The board may use the principle of unit valuation in valuing properties of an assessee that are operated as a unit in a primary function of the assessee. When so valued, those properties are known as “unitary property.” Property of an assessee not valued through the use of the principle of unit valuation are known as “nonunitary property.” When valuing nonunitary property, the board shall consider current market value information of comparable properties provided by the assessor just prior to the reappraisal by the board of that property.
Cal. Rev. & Tax. Code § 723
General Provisions
Applied in 3 court decisions — leading case 12 Cal. 4th 1110 - American Airlines, Inc. v. County of San Mateo (1996)
Most recently applied in 105 Cal. App. 4th 1 - County of Los Angeles v. State Board of Equalization (January 2003)
Amended by Stats. 1983, Ch. 694, Sec. 1.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.