Section 402.95 Of Article 1. General Requirements From California Revenue And Taxation Code >> Division 1. >> Part 2. >> Chapter 3. >> Article 1.

. In valuing property under the income method of appraisal, the assessor shall exclude from income the benefit from federal and state low-income housing tax credits allocated by the California Tax Credit Allocation Committee pursuant to Section 42 of the Internal Revenue Code and Sections 12206, 17058, and 23610.5.