Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 660.0142

660.0142 Lease and Leaseback. A lease and leaseback of property owned by a governmental agency creates a taxable possessory interest which may be eligible for exemption pursuant to Revenue and Taxation Code section 231. However, the exemption does not apply to the possessory interest if the property is vacant and unused on any given lien date. C 9/30/1987.