If my organization currently owns property that is exempt, does additional property acquired by my organization automatically qualify for exemption?
No. An organization acquiring additional property must apply with the local Assessor by the March 1st deadline for exemption on that new property. Exemption determinations are made annually. When use or ownership change so that property may qualify for exemption, an exemption application must be timely filed. Be aware that newly acquired property may cause an owner to exceed statutory acreage limitations on exemption.
Related Questions
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