Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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H

505.0000 HOMEOWNERS' EXEMPTION

Annotation 505.0063

505.0063 Limited Liability Company. For property tax exemption law purposes, limited liability companies are, like corporations, separate entities. There is no authority for disregarding a limited liability company's separate entity status for purposes of ownership of property and determining eligibility for the homeowners' exemption. Thus, a claim for exemption should not be allowed for property owned by a limited liability company. C 11/27/2001.