Summary
Section 75.12 of the California Revenue and Taxation Code provides that any real property on which new construction is completed and which qualifies for the exclusion under Section 75.12 shall not be added to the supplemental roll until the date that property, in whole or in part:
- Changes ownership.
- Is rented or leased, or
- Is occupied or otherwise used by the owner, or with the owner's consent, except for a model home or other use that is incidental to an offer for a change in ownership, whichever comes first.