12 U.S.C. § 1714 — Taxation
submitted 92 years ago by ch. 847 to r/title-12-BANKS-AND-BANKING · 44 words · no verdicts yet
This section says that real property acquired and held by the Secretary under this subchapter is not exempt from state or local property taxation. It must be taxed according to its value in the same way as other real property.
This subchapter does not exempt real property that the Secretary acquires and holds under it from taxation by a State* or a political subdivision of a State. The property may be taxed according to its value to the same extent as other real property.
Nothing in this subchapter shall be construed to exempt any real property acquired and held by the Secretary under this subchapter from taxation by any State* or political subdivision thereof, to the same extent, according to its value, as other real property is taxed.
Source credit: (June 27, 1934, ch. 847, title II, § 208, 48 Stat. 1252; Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22; Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
- 1934Enacted · Act of June 27, 1934, ch. 847 · 48 Stat. 1252
- 1938Amended · Act of Feb. 3, 1938, ch. 13 · 52 Stat. 22
- 1950Amended · Act of Apr. 20, 1950, ch. 94 · 64 Stat. 59
- 1967Amended · Pub. L. 90-19 · 81 Stat. 17
A history note hasn’t been published yet. The record shows enactment by ch. 847 on 1934-06-27.
all 0 arguments · sorted by: best
no arguments yet — make the first case