AB 1516: Real property taxation.

This bill amends existing property tax law to provide relief to certain property owners. It allows property owners to claim exemptions for active solar energy systems for up to three years after purchase, and if a claim is filed after the three-year deadline, the exemption will begin on the lien date for the assessment year in which the claim is filed. The bill also expands the reduction in taxes, penalties, and interest imposed on property tax exemption applications to include public schools. If an exemption application for a public school is filed within a specified time, 85% or 90% of the excess taxes, penalties, and interest can be canceled or refunded. Additionally, the bill requires local tax officials to expand their duties to include administering the new exemption program, which will impose a state-mandated local program. The state will be required to reimburse local agencies a…