(a) 
The Assessor may exempt from property tax all real property with a base year value, as adjusted for inflation, and personal property with a full value so low that, if not exempt, the total taxes, special assessments, and applicable subventions on the property would amount to less than the cost of assessing and collecting them.
(b) 
The Assessor shall exempt from taxation all real and personal property with a full value of no more than the maximum set by Revenue and Taxation Code section 155.20 ($10,000 as of the date of enactment of the ordinance codified in this article), as such statute may be amended from time to time, except that this limitation is increased to a higher amount, also no more than the maximum set by Revenue and Taxation Code section 155.20 ($50,000 as of the date of enactment of the ordinance codified in this article), as such statute may be amended from time to time, in the case of a possessory interest, for a temporary and transitory use, in a publicly owned fair-ground, fairground facility, convention facility, or cultural facility. For purposes of this subsection, "publicly owned convention or cultural facility" shall be defined as set forth in Revenue and Taxation Code section 155.20, as such statute may be amended from time to time. As of the date of enactment of the ordinance codified in this article, this phrase is defined as a publicly owned convention center, civic auditorium, theater, assembly hall, museum, or other civic building that is used primarily for staging any of the following:
(1) 
Conventions, trade and consumer shows, or civic and community events.
(2) 
Live theater, dance, or musical productions.
(3) 
Artistic, historic, technological, or educational exhibits.
(c) 
This section does not apply to those real or personal properties enumerated in Revenue and Taxation Code section 52, as such statute may be amended from time to time. As of the date of enactment of the ordinance codified in this article, these are:
(1) 
Property which is enforceably restricted as open space (including an agricultural preserve) or historical property;
(2) 
Property restricted to timberland use;
(3) 
Property subject to valuation as a nonprofit golf course; and
(4) 
Property subject to valuation due to being owned by a local government outside its boundaries.
(d) 
This article shall apply to the 2019-2020 fiscal year and all succeeding fiscal years.
(e) 
Nothing in this section shall authorize either of the following:
(1) 
The Assessor shall not exempt new construction, unless the new total base year value, as adjusted for inflation, of the property, including this new construction, is no more than the maximum set by Revenue and Taxation Code section 155.20 ($10,000 as of the date of enactment of the ordinance codified in this article), as such statute may be amended from time to time.
(2) 
The Assessor shall not exempt or fail to enroll any property of any value, unless specifically authorized by state law or this Ordinance Code.
(Added by Ord. No. 3565, effective 8-8-19)
(a) 
The Assessor may cancel any supplemental tax bill where that assessment would result in an amount of taxes due which is less than the cost of assessing and collecting them. This article shall not apply if the amount of taxes resulting from that supplemental assessment would exceed the amount set forth in section 75.55 of the Revenue and Taxation Code ($50 as of the date of enactment of the ordinance codified in this article), as such statute may be amended from time to time.
(b) 
Notwithstanding this section, no taxable real property shall be exempt from property taxes assessed on the lien date unless the property is otherwise exempt under the Revenue and Taxation Code.
(Added by Ord. No. 3565, effective 8-8-19)
(a) 
The Assessor shall not make an escape assessment of an appraisal unit where that assessment would result in an amount of taxes due which is less than the cost of assessing and collecting them. This article shall not apply to any escape assessment of an appraisal unit if the amount of taxes resulting from the escape assessment would exceed the amount set forth in section 531.9 of the Revenue and Taxation Code ($50 as of the date of enactment of the ordinance codified in this article), as such statute may be amended from time to time.
(b) 
Notwithstanding this section, no taxable real property shall be exempt from property taxes assessed on the lien date unless the property is otherwise exempt under the Revenue and Taxation Code.
(Added by Ord. No. 3565, effective 8-8-19)