Laws, Regulations & Annotations

C

250.0000 COLLEGE EXEMPTION

Annotation 250.0020

250.0020 Student Bookstore. Where the college and bookstore are separate corporations and both will receive the exemption, each corporation's property (excluding inventory) should appear separately on the roll with its own assessed value and exemption, as only the bookstore's personal property is subject to subvention. This appears most easily accomplished by having the bookstore file its own personal property statement, by entering the values on the roll, and then allowing the exemption. LTA 3/11/1980 (No. 80/43).