Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
690.0000 PUBLIC SCHOOLS EXEMPTION
690.0042 Possessory Interest. The lease of tax-exempt land by a school district to a public facilities corporation solely owned by the district creates a taxable possessory interest assessable to the corporation. If the land is subleased to the school district and used exclusively for public school purposes, as required by Revenue and Taxation Code section 202(a)(3), the exemption is applicable. C 4/20/1993.