Housing Group Keeps Texas High Court Win On RE Tax Break

Law360, New York (March 21, 2014, 5:05 PM EDT) -- The Texas Supreme Court on Friday let stand a recent decision that gives investors greater flexibility financing affordable housing projects by offering more leeway to nonprofits that seek a property tax exemption for low-income real estate.

The Texas justices denied a request to rehear an appeal brought by the Galveston Central Appraisal District over the administration and interpretation of the property tax exemption. Friday's decision keeps in place the high court's January ruling that a Galveston apartment complex indirectly controlled by a nonprofit group qualifies for...
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