Nonprofit educational institutions of collegiate grade may be eligible for exemption from property taxes through either the College Exemption or the Welfare Exemption. In general, buildings and property, whether owned or leased and used exclusively for educational purposes by a nonprofit educational institution of collegiate grade, are eligible for the College Exemption. Colleges that are part of the public school system, such as community colleges and state universities, are exempt as public schools.
To apply for the College Exemption, a claim form must be filed each year with the assessor of the county where the property is located.
