§ 3.15.080. Assessed value of the property before full repair, restoration, or reconstruction.

(a)

The assessed value of the property in its damaged condition, as determined pursuant to Section 3.15.030, compounded annually by the inflation factor specified in subdivision (a) of Section 51 of the California Revenue and Taxation Code, shall be the taxable value of the property until it is restored, repaired, reconstructed or other provisions of the law require the establishment of a new base year value.

(b)

If partial reconstruction, restoration, or repair has occurred on any subsequent lien date, the taxable value shall be increased by an amount determined by multiplying the difference between its factored base year value immediately before the calamity and its assessed value in its damaged condition by the percentage of the repair, reconstruction, or restoration completed on that lien date.

(Ord. 3026 § 1 (part), 2004)