§ 48-4-108. Exemption of Land Bank Property From State and Local Taxation; Acquisition of Real Property Interests; Land Bank Prohibited From Owning or Holding Real Property Located Outside Geographical Boundaries
The real property of a land bank and its income and operations are exempt from all taxation by the state and by any of its political subdivisions, including, but not limited to, real property held by a land bank as lessor pursuant to long-term lease contracts with community land trusts. A land bank may acquire […]
§ 48-4-109. Land Bank to Hold Acquired Property in Own Name; Public Review and Inspection of Real Property Inventory; Consideration Necessary for Property Transactions; Hierarchical Ranking of Priorities for Use
A land bank shall hold in its own name all real property acquired by the land bank without regard to the identity of the transferor of the property. A land bank shall maintain and make available for public review and inspection an inventory of all real property held by the land bank. A land bank […]
§ 48-4-110. Funding Through Grants and Loans; Receipt of Payments for Various Activities; Remission of Real Property Tax; Allocation of Proceeds From Sale of Property
A land bank may receive funding through grants and loans from the land bank members, from any other municipal corporations, counties, or consolidated governments in the state, from the General Assembly, from the federal government, and from other public and private sources. A land bank may receive and retain payments for services rendered, for rents […]