Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 880.0144

880.0144 Limited Equity Cooperative Housing Corporation. Property owned by cooperative housing corporations, including limited equity cooperative housing corporations, that is eligible for the homeowners' exemption under Revenue and Taxation Code section 218 is not property used exclusively for rental housing and related facilities within the meaning of Revenue and Taxation Code section 214(g). Thus, property that is owned and used by a cooperative member as a primary residence is ineligible for the welfare exemption. However, any mobilehome spaces or dwellings held by the cooperative that are rented at prescribed rent levels to qualifying lower income tenants who are not cooperative members may qualify for the exemption, provided that all other requirements for the exemption are met. C 3/26/2004.