Tax Type
Property Tax
Description
Public Service Water Corporation
Topic
Exemptions
Date Issued
10-12-1970
A public service water corporation, which includes a profit factor in its rate schedule, is subject to county property taxation and does not qualify for an exemption as a community club or association. Present provisions in the Articles of Incorporation prohibiting dividend payment on stock and distribution of income would not prevent accumulation of earnings and distribution after amendment of the articles of incorporation.
Attorney General's Opinion