Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
250.0000 COLLEGE EXEMPTION
250.0021 Student Bookstore. The college exemption is available to college-owned realty, improvements, fixtures and equipment used in a college bookstore, even though the store is operated by a for-profit entity. Similar property used in such a bookstore but not owned by the college is subject to tax, as is college-owned book store property used to generate unrelated business taxable income as defined in the Internal Revenue Code. C 5/16/1990.