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Assessor Manuals, Exemption Administration

Exemption Administration Manual—Part 2: Multiple dwellings and urban renewal

Section 4.07 - Gen Muny L Sections 506, 555, 560: Urban renewal property owned by municipality or municipal urban renewal agency

Exemption code(s)

Municipality:  18040
Municipal urban renewal agency:  18060

Year originally enacted:

1962

Related statutes:

None.

Summary:

Real property that is owned by a municipality or a municipal urban renewal agency and is used for urban renewal purposes is wholly exempt from taxation but is liable for special ad valorem assessments.

Eligibility requirements

Ownership requirements:

Property must be owned by a municipality or a municipal urban renewal agency.

Property location requirements:

None.

Property use requirements:

Property must be used for urban renewal purposes - the redevelopment, through clearance, replanning, reconstruction, rehabilitation, and concentrated code enforcement, of substandard and insanitary areas.

Certification by state or local government:

None required.

Required construction start date or other time requirement:

None.

Local option

No.

Limitation on exemption

Limitation on exemption by amount, duration, and taxing jurisdiction
General municipal taxes School district taxes Special ad valorem tax Special assessments
1. Amount No limit No limit No exemption allowed No exemption allowed
2. Duration No limit No limit No exemption allowed No exemption allowed
3. Taxing jurisdiction
a. County or county special districts Ex NA Tax Tax
b. City Ex NA NA Tax
c. Town or town special district Ex NA Tax Tax
d. Village Ex NA NA Tax
e. School district NA Ex NA NA
Ex-Exempt     Tax-Taxable     NA-Not Applicable

Payments in lieu of taxes

Although not required by law, such payments may be made by a municipality or municipal urban renewal agency. If they are made, they must not exceed the lesser of:

  1. the sum last levied by the taxing jurisdiction prior to acquisition of the property for urban renewal purposes, or
  2. an amount approved by the State Commissioner of Housing.

Calculation of exemption

General municipal and school district taxes:

100% of assessed value.

Special ad valorem levies and special assessments:

No exemption allowed.

Coding of exemption on assessment roll

Coding of exemption on assessment roll
Code Description of alternative codes possible
18040 Municipality
18060 Municipal urban renewal agency

Assessment roll section(s):

Exempt (ARLM Section 8).

Note: This code should not be used to identify property that is exempt under any of the statutes listed under Similar exemptions below. For coding of such property, see the exemption profile for the statute that applies.

Filing requirements (owner or occupant of property)

None.

Reporting requirements (assessor)

None.

Similar exemptions

See Chart IIA and Chart IIB.

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Updated: