Leased Property Used Exclusively for Low-Income Housing
Revenue and Taxation Code §236 provides an exemption for low-income rental housing property that is leased for a term of 35 years or more, where the lessor does not otherwise qualify for a tax exemption pursuant to the welfare exemption of §214. The property must be leased and operated by religious, hospital, scientific, or charitable funds, foundations, corporations, public housing authorities, public agencies, or limited partnerships in which the managing general partner has received a determination that it is a charitable organization under section 501(c)(3) of the Internal Revenue Code and is operating the property in accordance with its exempt purpose.
Claimants requesting exemption from property taxes on leased property used exclusively for low-income rental housing must annually file form BOE-236 and attach BOE-236-A.
