California Law (Last Updated: March 4, 2014) |
Revenue and Taxation Code - RTC |
Division 1. PROPERTY TAXATION |
Part 9. CORRECTIONS, CANCELLATIONS, AND REFUNDS |
Chapter 4. Cancellations |
ARTICLE 5. Cancellation of Taxes on Exempt Property |
Section 5081.
Latest version.
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As used in this article, "exempt property" means:
(a) Property acquired by the United States that becomes exempt from taxation under the laws of the United States.
(b) Property acquired by the state or by a county, city, school district, or other public entity, that becomes exempt from taxation under the laws of the state.
(Added by Stats. 1979, Ch. 31.)