Tax-Exempt Property

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 ?
As the amount of tax-exempt property has grown in recent years, it has placed a greater burden on the city's tax-paying property owners to fund the municipal government and services.
Nibbling at exempt property; Councilors seek controls on siting, and vacant parcels
It therefore was no surprise Tuesday night when the council once again brought up, for the umpteenth time over the past how-many years, the idea of having tax-exempt property owners make voluntary payments to the city for the municipal services they receive.
Nonprofits are 800-pound gorilla in tax rate debate; Council plays to cheap seats in 11th-hour request
County assessment records show that the tax-exempt property has a real market value of $3.
Parent church sues Lighthouse over membership, finances
Reimbursement for Tax-exempt Property - In municipalities with a high percentage of tax-exempt property, owners of taxable property are paying for both their own municipal services as well as the services provided to tax-exempts.
Mayors and Local Officials, Representing the PA League of Cities and Municipalities, Rallied for Legislative Support of New Revenue Options to Address Dire Municipal Fiscal Crisis
David Johnson ( partner at Gerald Eve in Newcastle ( examines the Government's announcement it will push ahead with Real Estate Investment Trusts (REITs), tax-exempt property investment vehicles which could result in a rush of money into property.
No reason why `land tax' should stifle development
Last year, NLC's City Fiscal Conditions in 2000 annual survey reported that the fair market value of tax-exempt property for responding cities totaled $177 billion, resulting in foregone property tax losses of $2.
History, Voters Not Kind to Property Tax
An additional proposal would be to increase the amount of tax-exempt property in, say, $2,500 yearly increments, preferably forever.
The Bruce retort
The tax-exempt property would then be leased back to Silverstein who would sublease it to the non-profit tenants for below $20 per square foot.
Silverstein building 'going non-profit.' (Larry Silverstein)
4% of taxable assessed value due to the large proportion of tax-exempt property.
Fitch Affirms Gainesville, FL's Non-ad Valorem Bonds at 'AA-'; Outlook Stable
What is even more alarming in some regards is that Worcester's percentage of tax-exempt property valuation has grown from 22 percent in 2003 to 31 percent today, according to AWARE.
Tax-exempts scrutinized anew; Worcester's percentage on rise
In the first week of a two-week report Richard Freeman-Wallace ( head of property at Watson Burton in Newcastle ( examines the Government's announcement it will push ahead with Real Estate Investment Trusts (REITs), tax-exempt property investment vehicles which could result in a rush of money into property.
Gordon's mixed bag for investors
Other issues to be looked at include: what strategies will be needed to address the likely further evolution of political pressure to limit taxation; the applicability of sales taxes to services and the limitation in property tax revenues caused by increases in non-profit, tax-exempt property, circuit breakers, mandated lids or other methods.
NLC Embarks on Future of Public Finance Initiative
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