AB 1528

Did you know AB 1528 (recently signed by the Governor into law) exempts housing authorities (and its instrumentalities) from paying property taxes…

This means property 100% owned and controlled by a PHA instrumentality, as defined by the law, will be exempt from property tax. However, if the instrumentality partners with others in the ownership (like an outside nonprofit developer), they would likely still have to request the welfare tax exemption. Please consult your local counsel and/or accountant to see how this may reduce your administrative burden (related to applying for exemptions) and give housing authorities certainty about our exemption from property taxes for the future, which will help assure our partners and close future development deals.

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