Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

CHAPTER 1. Taxation Base

Article 1. Taxable and Exempt Property

Section 236

236. Exemption; leases for rental housing. Property leased for a term of 35 years or more or any transfer of property leased with a remaining term of 35 years or more where the lessor is not otherwise qualified for a tax exemption pursuant to Section 214, which is used exclusively and solely for rental housing and related facilities for tenants who are persons of low income (as defined in Section 50093 of the Health and Safety Code), and is leased and operated by religious, hospital, scientific, or charitable funds, foundations or corporations, public housing authorities, public agencies, or limited partnerships in which the managing general partner has received a determination that it is a charitable organization under Section 501(c)(3) of the Internal Revenue Code and is operating the property in accordance with its exempt purpose is exempt from taxation on the possessory interest and the fee interest in the property throughout the term of the lease.

Low- and moderate-income has the same meaning as the term "persons and families of low- and moderate-income" as defined by Section 50093 of the Health and Safety Code.

History.—Added by Stats. 1988, Ch. 1296, in effect January 1, 1989.

Note.—Section 2 of Stats. 1988, Ch. 1296, provided that notwithstanding Section 2229, the requirements of that section relating to any exemption of property for more than five years or for more than 75 percent of the value thereof shall not apply to the exemption made by this act. Sec. 3 thereof provided that this act shall be applicable to property taxes levied for the 1989–90 fiscal year and fiscal years thereafter.