Property Tax Exemption Act

The Property Tax Exemption Act is legislation that allows certain properties to be exempt from paying local property taxes. This often applies to specific groups or types of properties, such as religious, charitable, educational institutions, or properties used for public purposes. The goal is to support organizations that provide community benefits by reducing their tax burden. Eligibility criteria and the extent of exemptions vary depending on the law’s provisions and local regulations. Ultimately, it helps promote community services and organizations that might otherwise struggle with property costs.