Dictionary of Business Terms: tax-exempt property
tax-exempt property
real property that is not subject to AD valorem property taxes. In many local communities, churches, homesteads, and government land and buildings are tax exempt.
Dictionary of Real Estate Terms: tax-exempt property
tax-exempt property
real property that is not subject, in whole or in part, to ad valorem property taxes.
Examples: In many local communities, the following types of property are tax-exempt property:
- churches
- government land and buildings
- homesteads (in part)
- solar-powered heating systems
