Tax-Exempt Property

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Tax-Exempt Property

Real estate that is not subject to property tax. A tax-exempt property may be owned by a government or by a charity, especially a house of worship. See also: Waqf.
References in periodicals archive ?
With all the tax-exempt properties in the city, we're basically collecting 70 cents on the (tax) dollar.
Perform a review of all taxable and tax-exempt properties that consists of onsite exterior and interior visits to all property to update any and all improvements to the property card, along with taking digital photographs of the property.
After appealing to the Supreme Court, the hospital settled with the city, agreeing in 2008 to pay $120,000 per year for 15 years to offset its tax-exempt properties.
While government owned real estate is tax-exempt and provides a distinct service, most other tax-exempt properties provide virtually little or no benefit to the average local taxpayers.
These constraints are partially because of the township's high percentage of tax-exempt properties and the lack of area available for new development.
In a special analysis of the impact of tax-exempt properties on municipal finances in 173 cities, the survey found that the average city estimated a loss in foregone property tax revenues of an amount equal to 13.
In the future, we anticipate looking at new sources of payments in lieu of taxes among currently tax-exempt properties.
An annual review of tax-exempt properties in 1992 by the assessor's office coincided with a mapping project of the airport area.
The utility transfers allow the city to collect some revenue indirectly from tax-exempt properties (over one-half of the city's property is tax-exempt) and provides the city a diverse revenue base.
Worcester has long played second-fiddle to Boston in so many areas over the years, but when it comes to tax-exempt properties the Heart of the Commonwealth actually holds the bragging rights.
Under this agreement, Robeson County will outsource to CLT the appraisal of 75,000 parcels of residential, commercial, industrial and tax-exempt properties for the County's January 1, 2004 tax roll.
Also excluded are HDFC properties and tax-exempt properties, although many appear on the list.