§ 7-205. Community water systems.
Property that is owned by any nonprofit community water corporation is not subject to property tax if the corporation:
(1) is owned by a majority of the lot owners in the area that the water system serves; and
(2) charges a rate that is sufficient only to pay for the cost of operating the system.
[An. Code 1957, art. 81, § 9; 1985, ch. 8, § 2.]
§ 7-205. Community water systems.
Property that is owned by any nonprofit community water corporation is not subject to property tax if the corporation:
(1) is owned by a majority of the lot owners in the area that the water system serves; and
(2) charges a rate that is sufficient only to pay for the cost of operating the system.
[An. Code 1957, art. 81, § 9; 1985, ch. 8, § 2.]
§ 7-205. Community water systems.
Property that is owned by any nonprofit community water corporation is not subject to property tax if the corporation:
(1) is owned by a majority of the lot owners in the area that the water system serves; and
(2) charges a rate that is sufficient only to pay for the cost of operating the system.
[An. Code 1957, art. 81, § 9; 1985, ch. 8, § 2.]
