Laws, Regulations & Annotations

W

880.0000 WELFARE EXEMPTION

(a) IN GENERAL

Annotation 880.0230

880.0230 Property Acquired After Beginning of Fiscal Year. Revenue and Taxation Code section 271(a)(3) provides relief from property tax imposed upon property so acquired by an organization qualified for the exemption, a religious, hospital, or scientific organization or a charitable community chest, fund, foundation, or corporation. A limited partnership owning property on the March 1 lien date and thereafter adding an eligible nonprofit corporation as a general partner is not eligible for relief under that section. C 3/1/1994.