A. Larkspur Municipal Code Sections 3.08.040(B)(5) and (B)(6) and 3.08.050(B)(4) and (B)(5) shall become operative on January 1st of the year following the year in which the State Department of Tax and Fee Administration adopts an assessment ratio for state-assessed property which is identical to the ratio which is required for local assessments by Section 401 of the Revenue and Taxation Code, at which time Larkspur Municipal Code Sections 3.08.040(B)(4) and 3.08.050(B)(3) shall become inoperative.

B. In the event that Larkspur Municipal Code Sections 3.08.040(B)(5) and (B)(6) and 3.08.050(B)(4) and (B)(5) become operative and the State Department of Tax and Fee Administration subsequently adopts an assessment ratio for state-assessed property which is higher than the ratio which is required for local assessments by Section 401 of the Revenue and Taxation Code, Larkspur Municipal Code Sections 3.08.040(B)(4) and 3.08.050(B)(3) shall be come operative on the first day of the month following the month in which such higher ratio is adopted, at which time Larkspur Municipal Code Sections 3.08.040(B)(5) and (B)(6) and Larkspur Municipal Code Sections 3.08.050(B)(4) and (B)(5) shall become inoperative until the first day of the month following the month in which the Board again adopts an assessment ratio for state-assessed property which is identical to the ratio required for local assessments by Section 401 of the Revenue and Taxation Code, at which time shall again become operative and Larkspur Municipal Code Sections 3.08.040(B)(4) and 3.08.050(B)(3) shall become inoperative. (Ord. 1030 § 2(3), 2018; Ord. 476 § 4, 1973; Ord. 231 § 6.1, 1956)