California CodesCalifornia Constitution - CONSArticle XIII — TaxationSection 1
Unless otherwise provided by this Constitution or the laws of the United States:
(a) All property is taxable and shall be assessed at the same percentage of fair market value. When a value standard other than fair market value is prescribed by this Constitution or by statute authorized by this Constitution, the same percentage shall be applied to determine the assessed value. The value to which the percentage is applied, whether it be the fair market value or not, shall be known for property tax purposes as the full value.
(b) All property so assessed shall be taxed in proportion to its full value.
Notes
Requires all property, unless this Constitution or federal law provides otherwise, to be taxable and assessed at the same percentage of fair market value or another constitutionally authorized value standard. Defines the resulting base as full value for property-tax purposes and requires taxation in proportion to that full value.
Use as reference
Lexinter.net | Cal. Const. art. XIII, § 1 | https://laws.lexinter.net/constitution/california/article-xiii/section-1