Spencer Fane attorney Matthew Wine authored an article, Real Property Tax Exemption May Require Equitable Ownership Analysis, published in The Missouri Bar Journal.
In the piece, Matt examined Missouri’s real property tax exemption, outlined relevant case history, and discussed the eligibility requirements property owners must meet. He placed particular emphasis on how the exemption works under forms of ownership more complex than fee titles.
“The spirit of the Missouri statute and established case law is that for a real property to be exempt from real property taxes, it must operate for charitable activities and not derive a profit for its owner,” Matt concluded. “While more nuanced than fee title ownership, equitable ownership is fully recognized as an appropriate ownership form for real property tax exemption under Missouri law, and must be considered by an assessor to determine the tax-exempt status of any given property that claims tax exemption and otherwise satisfies the Franciscan Test.”
At Spencer Fane, Matt is a valued member of the firm’s Real Estate team. He focuses his practice on commercial and residential real estate development as well as tax credit incentive financing related to commercial and affordable housing developments, state and federal regulatory counseling, financial services, and general construction and development matters.
Read Matt’s full article here.