CA Rev & Tax Code Section 236.5

Any otherwise taxable interest in real property, leased for an original term of 35 years or more and used exclusively by the lessee for the operation of a public park that is uniquely of a governmental character, as described in paragraph (4) of subdivision (b) of Section 231, is, during the term of the lease, within the exemption provided for in subdivision (b) of Section 4 and Section 5 of Article XIII of the California Constitution, if all of the following conditions are met:


The lessee is a charitable foundation that has received a determination that it is a charitable organization as described in Section 501(c)(3) of the Internal Revenue Code.


The operation of the public park by the lessee is within the tax exempt purposes of the lessee.


The lessee acquired the leasehold in the property by means of a charitable donation.


Under the terms of the lease, the lessee will acquire the entire ownership interest in the property on or before the end of the lease term.
Last Updated

Aug. 19, 2023

§ 236.5’s source at ca​.gov