Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
880.0000 WELFARE EXEMPTION
(a) IN GENERAL
880.0291 Unrelated Business Taxable Income. If an organization whose property is otherwise eligible for exemption receives taxable unrelated business income, i.e., income after expenses, from the use of a portion of that property, it will receive only a partial exemption for the portion so used.
Once unrelated business taxable income is produced, the exemption for the portion so used will be granted in the same proportion as gross exempt income from that portion of the property bears to total gross income attributable to that portion of the property. C 6/20/1989.