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What type of organizations are eligible for exemption from property taxation?

April 26, 2017eligible Organizations Property Taxation type

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What type of organizations are eligible for exemption from property taxation?

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Religious, charitable, scientific or nonprofit educational institutions may apply to have property owned by that organization exempt from property taxes if the property is currently being used exclusively to carry out one or more of the purposes for which the organization was created. This can include allowing another exempt institution to use the property for a purpose for which that organization was created, provided the owning institution receives no more that one dollar ($1.00) in rent per year (the owner may receive a reasonable fee for maintenance and service). The three key provisions are: 1. Owned by a religious, charitable, scientific or educational institution. 2. Currently being used for an purpose for which that organization exists. 3. The owning organization must apply to the State Board of Equalization and receive approval in writing.