42-11132. Property leased to an educational
institution
A. Property, buildings and fixtures that are leased to a not for profit
charter school and that are used for educational instruction in any grade or program
through grade twelve shall be classified as class nine property pursuant to section
42-12009. If only part of a parcel of real property or improvements to real property is
leased for operation of a charter school, only the portion so leased qualifies as class
nine property.
B. Property, buildings and fixtures that are owned by an educational, a religious
or a charitable organization, institution or association and leased to a not for profit
educational organization, institution or association are exempt from taxation if the
property is used for educational instruction in any grade or program through grade
twelve.
C. If the educational, religious or charitable organization, institution or
association that owns the property files with the assessor evidence of the organization's
tax exempt status under section 501(c)(3) of the internal revenue code and an affidavit
by the educational organization, institution or association that it uses the property for
educational instruction as described in subsection B of this section, the property
qualifies for the tax exemption under this section and is exempt from the requirement of
filing subsequent affidavits under section 42-11152 until all or part of the property is
conveyed to a new owner or is no longer used for educational purposes. At that time the
religious or charitable organization, institution or association must notify the assessor
of the change in writing.
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