Missouri Tax Commission Grants Taxpayer Personal, Real Property Tax Exemption

The Missouri State Tax Commission Jan. 24 issued a decision granting taxpayer, a limited liability company (LLC), an exemption from personal and real property tax as of Jan. 1, 2023, for its low-income housing apartment complex in Liberty, Missouri. The Commission found that, although taxpayer is an LLC, its sole member is a charitable nonprofit corporation and the property is used exclusively to provide affordable housing to low-income individuals under a Section 8 contract, satisfying the requirements for a charitable exemption under Missouri law and the Franciscan test. The Commission ruled that the current charitable use of the property is ...