Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 755.0045

755.0045 Leased to the State. On the lien date, certain real property owned by a railway company is leased to CalTrans. The property is assessable to the railway company. Property owned by a private for-profit organization does not become exempt because it is leased to a government agency. The exemptions provided by Revenue and Taxation Code sections 214.6 and 231 are not applicable because the railway company is not a non-profit organization described in those sections. C 5/12/1998.