If a 501c3 nonprofit leases a property from a private party in Florida, can it qualify for property tax exemption if it has a triple net lease and assumes responsibility for all taxes?
Asked on 3/26/13, 3:03 pm
1 Answer from Attorneys
Virginia Prihoda
Law Offices of Virginia Prihoda
Probably not. The property is being leased by a landlord who presumably has a profit motive in extending the lease. This would be the result in Illinois. However, you need to consult with an attorney licensed to practice in Florida to get a reliable answer, or take up your question with the assessor's office in the county where the property is located.
Answered on 3/27/13, 9:51 am
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