12 U.S.C. § 1741 — State taxation of realty held by Secretary
submitted 92 years ago by ch. 847 to r/title-12-BANKS-AND-BANKING · 44 words · no verdicts yet
This section does not exempt real property acquired and held by the Secretary under this subchapter from state or local property taxation. The property is taxed according to its value like other real property.
Nothing in this subchapter exempts real property the Secretary acquires and holds under it from taxation by a State* or its political subdivision. It must 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 VI, § 606, as added Mar. 28, 1941, ch. 31, § 1, 55 Stat. 61; amended 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 · 55 Stat. 61
- 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.
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