Facilities owned or used by schools, colleges, or universities providing housing to students

From the 2024 DOR Tax Exemption Study

82.29A.130(2) - Facilities owned or used by schools, colleges, or universities providing housing to students Description All leasehold interests in facilities owned or used by schools, colleges, or universities who provide housing for students, and are otherwise exempt from property tax, are also exempt from leasehold excise tax. Purpose To support schools, colleges, and universities, and provide relief for housing their students. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $105.780 $106.820 $108.650 $110.530 Local Taxes $92.790 $93.700 $95.300 $97.960 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $80.119 $108.650 $110.530 Local Taxes $0.000 $70.280 $95.308 $96.963 Assumptions - This repeal takes effect July 1, 2024, and impacts nine months of collections in fiscal year 2025. - Growth rate mirrors the leasehold excise tax growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. - Student housing leasehold excise tax will mirror the statewide leasehold tax . Data Sources - National Mult