“New base year value” means the full cash value of property on the date it changes ownership or of new construction on the date it is completed.
Cal. Rev. & Tax. Code § 75.8
Definitions and General Provisions
Added by Stats. 1983, Ch. 498, Sec. 133
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.