Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
505.0000 HOMEOWNERS' EXEMPTION
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.