Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > H > 505.0000 HOMEOWNERS' EXEMPTION > 505.0005

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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H

505.0000 HOMEOWNERS' EXEMPTION

Annotation 505.0005

505.0005 Condominiums.

1. The exemption is allowable where an owner's deed grants to him a percentage interest in the property and the right to the exclusive occupancy of a particular apartment even though the interest is not separately assessed, as it should be.

2. A leasehold or subleasehold condominium does not qualify for the exemption.

3. The exemption may be allowed on a condominium where a portion of the improvement is owned in fee but the land is leased. LTA 3/23/1982 (No. 82/50).