Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


A    B    C    D    E    F    G    H    I    L    M    N    O    P    R    S    T    U    V    W   

W

880.0000 WELFARE EXEMPTION

(a) IN GENERAL

Annotation 880.0166

880.0166 Managing General Partner. Revenue and Taxation Code section 214(g)(1) provides exemption from property taxes for property used to provide low-income housing and related facilities owned and operated by limited partnerships in which the managing general partner is an eligible nonprofit corporation. To be a managing general partner, the nonprofit corporation should possess the authority to exercise some substantial management duties over some aspect of the partnership business on a day to day basis. This authority may be shared to some extent with other general partners in the limited partnership. C 2/17/2000.