When can an organization apply for a new exemption on a property?

When a non-profit entity acquires property on or after January 1 that may qualify for an exclusive use exemption, that entity may apply for the exclusive use exemption on or before the later of MARCH 1ST (or the next business day if the 1st falls on a weekend) or 120 days after the property is acquired (§§ 59-2-1101 and 59-2-1102). If an exemption is not applied for timely, they will be required to apply during the next application period starting January 1st through March 1st of the next year.

Show All Answers

1. Which non-profit organizations quality for an exemption?
2. Is all property owned by a non-profit organization eligible to be exempted?
3. When can an organization apply for a new exemption on a property?
4. Does an organization need to reapply each year?
5. Can vacant land receive an exemption?