Property Taxes Law Guide – Revision 2013
 

44556. Authority property exempt from taxation. The authority shall not be required to pay any property taxes or assessments upon, or in respect to, a project or any property acquired by or for the authority under the provisions of this division or upon the income therefrom, so long as the authority holds title to such project or the property or facilities comprised in the project. The exemption of the authority from taxation of any project herein provided shall cease forthwith when title to such property is transferred from the authority to any participating party. The provisions of this section shall not exempt any participating party from taxation with respect to any project, or the property of facilities comprised in any project, which may otherwise be applicable to such participating party.

History.—Added by Stats. 1975, Ch. 957, p. 2222, in effect January 1, 1976.