Amends existing law to revise provisions related to the assessment of market value and the homestead exemption.

The burden of proof change on appeal does not impact tax collections or cause any increase or decrease in assessed values and has no impact on state and local funds. The eligibility status for the homeowner’s exemption will have a de minimis impact to local property tax collections because the exemption is adjusted to property changes during the tax year and results in eligibility and ineligibility on and off the tax rolls.