11:00 A.M. - PUBLIC HEARING - (Continued from November 18, 2025) Consideration of an Ordinance Amending Article VIII. Of Chapter 18 Of the Lake County Code to Implement a Low Value Property Tax Exemption

Summary

This ordinance amends the Lake County Code to implement a low value property tax exemption. This exemption, authorized by Revenue and Taxation Code Section 155.20, applies to real property with a base year value of $5,000 or less, provided it does not fall under specific exclusions listed in Section 18-93 (e.g., constitutionally restricted property, timberland, golf courses, etc.). Additionally, the ordinance prohibits the County Assessor from making escape assessments or canceling supplemental assessments if the resulting tax liability is $50 or less, citing the cost of assessment and collection outweighing the tax proceeds. The exemption will be available starting with the 2026-2027 tax year.

Citizen Impact

This ordinance will eliminate property taxes for owners of very low-value properties (base year value $5,000 or less), potentially simplifying tax burdens for those with minimal property holdings. It also prevents small tax liabilities of $50 or less from being assessed or canceled.

Confidence

high