Section 25129 Of Article 2. Uniform Division Of Income For Tax Purposes Act From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 17. >> Article 2.

. The property factor is a fraction, the numerator of which is the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the taxable year and the denominator of which is the average value of all the taxpayer's real and tangible personal property owned or rented and used during the taxable year.