Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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H

505.0000 HOMEOWNERS' EXEMPTION

Annotation 505.0074

505.0074 Possessory Interest—Leasehold Estate. Homeowners who sold their residence to a redevelopment agency and immediately leased it back acquired a taxable possessory interest in the residence. As a leasehold estate, the homeowners' interest in the property is not eligible for the exemption. C 3/10/1998.