Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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160.0000 ASSESSEE

Annotation 160.0015

160.0015 Personal Property Leased to A Bank or Insurance Company. Personal property leased to banks and insurance companies is not entitled to the exemption accorded the personal property owned by such institutions, and such property should be assessed to the lessor. Personal property leased to a bank or insurance company is exempt if the bank or insurance company is the equity owner, however, even though the agreement between the lessor and the bank or insurance company is denominated a lease. C 7/24/1979.