Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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W

880.0000 WELFARE EXEMPTION

(a) IN GENERAL

Annotation 880.0288

880.0288 Trusts. Typical trusts for welfare exemption purposes are trusts established for charitable purposes having as beneficiaries the community as a whole or an unascertainable portion thereof. Other trusts are trusts established for charitable purposes having as beneficiaries specific, named organizations which are charitable organizations. For property held in an irrevocable trust, the equitable owner is deemed to be the beneficiary. Thus, both the trust and the claimant have to meet requirements for the exemption. Therefore, the property may qualify for the welfare exemption if trust meets the organizational requirements for the exemption and the claimant meets all the requirements for the exemption. C 12/31/2007.