Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 880.0206

880.0206 Owner and Operator. Shared ownership of properties by governmental entities and non-governmental entities qualified for the welfare exemption will not prevent application of the welfare exemption to the portions owned by the non-governmental entities, provided the properties are put to exempt uses and all requirements are met.

Property placed in trust for the benefit of a governmental agency or agencies and/or organizations qualified for the welfare exemption is exempt based on the status of the beneficiary. The trustee holds legal title but the beneficiary is the equitable owner of the property for property tax purposes. C 3/11/1991.