Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > C > 220.0000 CHANGE IN OWNERSHIP > 220.0545

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0545

220.0545 Possessory Interests. A change in ownership requiring reappraisal occurs upon the creation, renewal, sublease, or assignment of a taxable possessory interest in tax-exempt real property. Where an improvement is privately owned, only the possessory interest in the land is to be reappraised. LTA 3/21/1980 (No. 80/48).