Section 40-9-17 - Property owned and used or held by colleges for certain purposes.

AL Code § 40-9-17 (2019) (N/A)
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All property owned and used by a college for the purpose of housing students, members of the faculty or other employees of the college is exempt from taxation.

All property owned by a college and held for the bona fide purpose of being used for enlargement of a campus or for the development of a new campus is exempt from taxation.