Community college property tax exemption-2.
This bill creates a property tax exemption for property owned by a community college district and such other property owned by the district as needed for the conduct of its operations.
This bill also creates a property tax exemption on property owned or held by a nonprofit corporate entity organized to provide fiscal or other support for the activities, programs, and needs of a community college district, provided the property is held and used in a manner consistent with the policies and actions of the governing board of the district.
Currently it appears that the decrease in property tax revenues to the local jurisdictions statewide would be less that $30,000 per year. However, it is not possible to predict the decrease in property tax revenues from the exemption of properties owned or held by nonprofit corporate entities that may qualify.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Marvin Applequist, DOR; 777-5235)