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2001 SESSION

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SB 855 Local real estate taxes.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Local real estate taxes. Provides that real estate that is otherwise exempt from local taxes shall be subject to such taxes only if such real estate is a source of substantial net income. Net income is determined using generally accepted accounting principles, including the cost of depreciation and other expenses relating to the operation and maintenance of such real estate.


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