Low-Income Housing Qualifies for Property Tax Exemption Despite Ownership by For-Profit Company

摘要

Low-income housing dedicated to public use is exempt from ad valorem taxes, even though it is owned by a for-profit company, ruled the Louisiana Court of Appeal, Fourth Circuit. (Abundance Square Associates, L.P v. Williams, No. 2010-CA-2011, 2011 WL 1085655 (La.App. 4 dr.), March 23, 2011) Plaintiffs Abundance Square Associates, L.R and Treasure Village Associates, L.P are for-profit Louisiana limited partnerships affiliated with a New Jersey development company. After the city of New Orleans razed the Desire housing project as part of a HOPE VI revitalization program, the Housing Authority of New Orleans (HANO) leased the former Desire site to plaintiffs to develop and operate as low-income housing.