Property Tax Alert: Texas

December 2006

Property owned by a public-private limited partnership generally must be used for public purposes and equitably owned by a public entity that has a legal right to compel the transfer of title to itself to qualify for a Texas property tax exemption. Under the partnership statutes, the property of a limited partnership belongs to the limited partnership, not to the composing partners. The issue of whether property is equitably owned by a public entity depends on the facts of a particular situation and is determined on a case-by-case basis.

Please contact Rash & Associates for more information.