An assessor will not consider any individual parcel of land owned by a state agency and leased to a private entity to be exempt from property tax because the Arkansas Constitution requires a public purpose. However, the exemption may not be destroyed for an entire tract of land where some parcels within the tract are leased to a private entity, but other parcels are used for a public purpose. The exemption would depend on the primary or predominant use of the tract of land. Additionally, an exemption for all state property, including real and personal property, would be read as requiring an exclusive public use as well.
AR - Public lands leased to private entity may lose exemption
- Emergency Economic Stabilization Act
2008 - IRS issues year-end 409A nonqualified
deferred compensation guidance - Congress passes pension funding relief,
RMD suspension and more - Congress predicted to pass early stimulus
bill for Obama to sign - Court of Appeals rules tuition and fees
paid to religious schools are not deductible - IRS shortens tax lien subordination/
discharge process to help distressed homeowners - AR - Public lands leased to private
entity may lose exemption - Click Here
