Section 5898.15 - Participation of owner(a) A public agency shall not permit a property owner to participate in any program established pursuant to this chapter if the owner's participation would result in the total amount of any annual property taxes and assessments exceeding 5 percent of the property's market value, as determined at the time of approval of the owner's contractual assessment.(b) Nothing in this chapter shall be construed to void or otherwise release a property owner from the contractual obligations incurred by a contractual assessment on a property, particularly in the event that the total amount of annual property taxes and assessments exceeds 5 percent of a property's market value after the property owner has entered into a contractual assessment pursuant to this chapter.(c) This section applies to a property owner who seeks to participate in a program established pursuant to this chapter for types of property not subject to the requirements of Sections 5898.16 and 5898.17.Ca. Sts. and High. Code § 5898.15
Amended by Stats 2016 ch 618 (AB 2693),s 3, eff. 1/1/2017.Added by Stats 2010 ch 649 (SB 1340),s 6, eff. 1/1/2011.