Opinion No. (1999)

BILL LOCKYER Attorney General GREGORY L. GONOT Deputy Attorney General THE HONORABLE MICHAEL H. KRAUSNICK, COUNTY COUNSEL, COUNTY OF STANISLAUS, has requested an opinion on the following question: Is Revenue and Taxation Code section 423.4 constitutional in authorizing property to be assessed at 65 percent of a specified value under the circumstances described therein? CONCLUSION Revenue and Taxation Code section 423.4 is constitutional in authorizing property to be assessed at 65 percent of a specified value under the circumstances described therein. ANALYSIS The question presented for resolution concerns the constitutionality of Revenue and Taxation Code section 423.4 , 1 which permits certain enforceably restricted farmland to be assessed for property tax purposes at 65 percent of a specified restricted-use value. Section 423.4 provides: "Land subject to a farmland security zone contract specified in Section 51296 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." 2 Is section 423.4 constitutional in light of the requirements of sections 1 and 8 of…