Report interests in real property located in your agency’s jurisdiction in which you, your spouse or registered domestic partner, or your dependent children had a direct, indirect, or beneficial interest totaling $2,000 or more any time during the reporting period. Real property is also considered to be “within the jurisdiction” of a local government agency if the property or any part of it is located within two miles outside the boundaries of the jurisdiction or within two miles of any land owned or used by the local government agency. (See Reference Pamphlet, page 13.)

Interests in real property include:

• An ownership interest (including a beneficial ownership interest)
• A deed of trust, easement, or option to acquire property
• A leasehold interest (See Reference Pamphlet, page 14.)
• A mining lease
• An interest in real property held in a retirement account (See Reference Pamphlet, page 15.)
• An interest in real property held by a business entity or trust in which you, your spouse or registered domestic partner, and your dependent children together had a 10% or greater ownership interest (Report on Schedule A-2.)
• Your spouse’s or registered domestic partner’s interests in real property that are legally held separately by him or her

You are not required to report:

• A residence, such as a home or vacation cabin, used exclusively as a personal residence (However, a residence in which you rent out a room or for which you claim a business deduction may be reportable. If reportable, report the fair market value of the portion claimed as a tax deduction.)
• Some interests in real property held through a blind trust (See Reference Pamphlet, page 16.) Please note: A non-reportable property can still be grounds for a conflict of interest and may be disqualifying.

To Complete Schedule B

• Report the precise location (e.g., an assessor’s parcel number or address) of the real property.
• Check the box indicating the fair market value of your interest in the property (regardless of what you owe on the property).
• Enter the date acquired or disposed only if you initially acquired or entirely disposed of your interest in the property during the reporting period.
• Identify the nature of your interest. If it is a leasehold, disclose the number of years remaining on the lease.
• If you received rental income, check the box indicating the gross amount you received.
• If you had a 10% or greater interest in real property and received rental income, list the name of the source(s) if your pro rata share of the gross income from any single tenant was $10,000 or more during the reporting period. If you received a total of $10,000 or more from two or more tenants acting in concert (in most cases, this will apply to married couples), disclose the name of each tenant. Otherwise, mark “None.”
• Loans from a private lender that total $500 or more and are secured by real property may be reportable. Loans from commercial lending institutions made in the lender’s regular course of business on terms available to members of the public without regard to your official status are not reportable.

  When reporting a loan:

  • Provide the name and address of the lender.
  • Describe the lender’s business activity.
  • Disclose the interest rate and term of the loan. For variable interest rate loans, disclose the conditions of the loan (e.g., Prime + 2) or the average interest rate paid during the reporting period. The term of a loan is the total number of months or years given for repayment of the loan at the time the loan was established.
  • Check the box indicating the highest balance of the loan during the reporting period.
  • Identify a guarantor, if applicable.

If you have more than one reportable loan on a single piece of real property, report the additional loan(s) on Schedule C.

Example

Allison Gande is a city planning commissioner. During the reporting period, she received rental income of $12,000, from a single tenant who rented property she owned in the city’s jurisdiction. If Allison received $6,000 each from two tenants, the tenants’ names would not be required because no single tenant paid her $10,000 or more. A married couple is considered a single tenant.

The image shows that Allison Gande entered 4600 24th Street in the assessor's parcel number or street address field and Sacramento in the city field. She checked on $100.001 - $1,000,000 checkbox as the fair market value, and checked on $10,001 - $100,000 checkbox for rental property gross income received. She entered Henry Wells in the name of tenant field, Sophia Petroillo in the name of lender field, 2121 Blue Sky Parkway, Sacramento in the address field, Restaurant Owner in the business activity field, 8% in the interest rate field, 15 years in the term field, and checked on $10,001 - $100,000 checkbox as the highest balance during reporting period.

Reminders

• Income and loans already reported on Schedule B are not also required to be reported on Schedule C.
• Real property already reported on Schedule A-2, Part 4 is not also required to be reported on Schedule B.
• Code filers – do your disclosure categories require disclosure of real property?

End of Title Page, Schedule B Interests in Real Property Instructions, HTML text-only version of Form 700, Years 2021 - 2022