Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
660.0000 POSSESSORY INTEREST
660.0159 Marine Salvage Permit. Property Tax Rule 20(c)(1) defines "real property" to include not only land (presumably including submerged land) but also "public waters such as tidelands and navigable waters and waterways." A taxable possessory interest is created in favor of the permittee if the terms of the salvage permit meet the definitions of independence, durability, and exclusiveness, and in addition, provide a private benefit to the possessor. C 9/29/1999.