Relates to property tax exemptions for nonprofit organizations; allows for nonprofit organizations to file an application for an exemption with the assessor no later than the taxable status date applicable to the following year's assessment roll where such nonprofit organization has purchased property after the taxable status date but prior to the levy of taxes.
Relates to property tax exemptions for nonprofit organizations; allows for nonprofit organizations to file an application for an exemption with the assessor no later than the taxable status date applicable to the following year's assessment roll where such nonprofit organization has purchased property after the taxable status date but prior to the levy of taxes.
Requires applications for property tax exemptions by nonprofit organizations be filed at the time of purchase of a property; provides that the attorney or agent responsible for filing such application shall be fined twenty-five percent of the property's assessed taxes if such application is not timely filed.
Relates to the payment of property taxes to municipalities by any nonprofit organization; requires nonprofit organizations that would typically be exempt from property taxes based on nonprofit status to pay 75 percent of its annual property taxes to the municipality in which it sits in order to offset the impact of the exemption.