Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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W

880.0000 WELFARE EXEMPTION

(c) WELFARE EXEMPTION—HOSPITAL PURPOSES

Annotation 880.0690

880.0690 Surplus Revenue. A non-profit hospital which earns surplus revenue in excess of ten percent during the preceding fiscal year may still qualify for the exemption. OAG 3/30/1988 (No. 87-502, Vol. 71, p. 106).

Note: Also, see Rideout Hospital Foundation, Inc. v. Yuba County (1992) 8 Cal.App.4th 214 as to whether a hospital may earn surplus revenue in excess of 10 percent during the immediate fiscal year and still qualify for exemption.