California Revenue And Taxation Code Section 70

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(a) "Newly constructed" and "new construction" means:
   (1) Any addition to real property, whether land or improvements
(including fixtures), since the last lien date; and
   (2) Any alteration of land or of any improvement (including
fixtures) since the last lien date that constitutes a major
rehabilitation thereof or that converts the property to a different
use.
   (b) Any rehabilitation, renovation, or modernization that converts
an improvement or fixture to the substantial equivalent of a new
improvement or fixture is a major rehabilitation of that improvement
or fixture.
   (c) Notwithstanding the provisions of subdivisions (a) and (b),
where real property has been damaged or destroyed by misfortune or
calamity, "newly constructed" and "new construction" does not mean
any timely reconstruction of the real property, or portion thereof,
where the property after reconstruction is substantially equivalent
to the property prior to damage or destruction.  Any reconstruction
of real property, or portion thereof, that is not substantially
equivalent to the damaged or destroyed property, shall be deemed to
be new construction and only that portion that exceeds substantially
equivalent reconstruction shall have a new base year value determined
pursuant to Section 110.1.
   (d) (1) Notwithstanding the provisions of subdivisions (a) and
(b), where a structure must be improved to comply with local
ordinances on seismic safety, "newly constructed" and "new
construction" does not mean the portion of reconstruction or
improvement to a structure, constructed of unreinforced masonry
bearing wall construction, necessary to comply with the local
ordinance.  This exclusion shall remain in effect during the first 15
years following that reconstruction or improvement (unless the
property is purchased or changes ownership during that period, in
which case the provisions of Chapter 2 (commencing with Section 60)
of this division shall apply).
   (2) In the sixteenth year following the reconstruction or
improvement referred to in paragraph (1), the assessor shall place on
the roll the current full cash value of the portion of
reconstruction or improvement to the structure that was excluded
pursuant to this subdivision.
   (3) The governing body that enacted the local ordinance shall
issue a certificate of compliance upon the request of the owner who,
pursuant to a notice or permit issued by the governing body that
specified that the reconstruction or improvement is necessary to
comply with a seismic safety ordinance, so reconstructs or improves
his or her structure in accordance with the ordinance.  The
certificate of compliance shall be filed by the property owner with
the county assessor not later than six months after the completion of
the project.  The failure to file a certificate of completion within
the prescribed filing period shall be deemed a waiver of the
exclusion for that year.
   (e) (1) Notwithstanding the provisions of subdivisions (a) and
(b), where a tank must be improved, upgraded, or replaced to comply
with federal, state, and local regulations on underground storage
tanks, "newly constructed" and "new construction" does not mean the
improvement, upgrade, or replacement of a tank to meet compliance
standards, and the improvement, upgrade, or replacement shall be
considered to have been performed for the purpose of normal
maintenance and repair.
   (2) Notwithstanding the provisions of subdivisions (a) and (b),
where a structure, or any portion thereof, was reconstructed, as a
consequence of completing work on an underground storage tank to
comply with federal, state, and local regulations on these tanks,
timely reconstruction of the structure shall be considered to have
been performed for the purpose of normal maintenance and repair where
the structure, or portion thereof, after reconstruction is
substantially equivalent to the prior structure in size, utility, and
function.

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Last modified: July 31, 2008