Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > P > 660.0000 POSSESSORY INTEREST > 660.0132

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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P

660.0000 POSSESSORY INTEREST

Annotation 660.0132

660.0132 Lease. The lease and lease-back of city-owned property to a nonprofit public benefit corporation may create a taxable possessory interest in the corporation. Property tax may be avoided if the corporation meets the requirements of Revenue and Taxation Code section 231. C 9/9/1987.