Churches, affordable-housing projects and other California nonprofits avoided property taxes on $122 billion in assessed value in 2013-2014 thanks to the state's welfare exemption for nonprofits, according to a recent report by the Legislative Analyst's Office.
The $122 billion represents about 3 percent of all taxable property value in California and translates into about $1 billion in lost revenue for cities and counties.
Friday, February 07, 2014
The Sacramento Bee reports:
Posted by Steve Bartin at 2:41 PM