California Revenue & Taxation Code
Cal. Rev. & Tax. Code § 722
Official textleginfo.legislature.ca.gov
State-assessed property shall be assessed at its fair market value or full value as of 12:01 a.m. on the first day of January. The board shall annually prepare an assessment roll of the assessments made by it for transmittal to county auditors and city auditors as hereinafter provided in this chapter.
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