Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2017
Property Tax Annotations
205.0000 BUSINESS INVENTORY EXEMPTION
205.0220 Property Leased on Lien Date. Whether or not property in the hands of a non-owner is actually being used on the lien date is not determinative of its status as exempt inventory or non-exempt property out on lease. If a person has the right to possession and control of property, that property is to be considered rented or leased, even if no user payments are currently due and even if the owner has some non-interfering rights in the property. C 4/1/1985.