US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 6
                           EXEMPTIONS FROM TAXATION
    63-602E.  PROPERTY EXEMPT FROM TAXATION -- PROPERTY USED FOR SCHOOL OR
EDUCATIONAL PURPOSES. (1) The following property is exempt from taxation: all
property used exclusively for nonprofit school or educational purposes,
property used for charter school purposes, and all property from which no
profit is derived and which is held or used exclusively for endowment,
building or maintenance purposes of schools or educational institutions.
    (2)  If property is used primarily for nonprofit school purposes or
charter school purposes and for business purposes from which a revenue is
derived, which revenue is not related to the educational purpose for which the
nonprofit school or charter school exists, the assessor shall determine the
value of the entire property, of the part used for nonprofit school purposes
or charter school purposes, and of the part used for such unrelated business
purposes. The portion of the building used for nonprofit school purposes or
charter school purposes and for business and administration of the nonprofit
school or charter school shall be exempt from taxation.