Current as of April 14, 2021 | Updated by FindLaw Staff
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(a) A leasehold or other possessory interest granted to a person by the authority or by a nonprofit corporation holding title for the authority is owned, used, and held for a public purpose for and on behalf of the authority and is exempt from taxation under Section 11.11, Tax Code.
(b) Section 25.07(a), Tax Code, does not apply to a leasehold or other possessory interest granted to a person by the authority or by a nonprofit corporation holding title for the authority during the period the authority or nonprofit corporation owns the estate or interest encumbered by the possessory interest.
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 3503.1541. Certain Property Exempt from Taxation - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-3503-1541/
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