21 Guam Code Ann. § 68710
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Terms Used In 21 Guam Code Ann. § 68710
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
During the first five (5) years of occupancy of government real property under an agricultural lease executed pursuant to the provisions of this Law, the said land
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21 Guam Code Ann. REAL PROPERTY
CH. 68 USE & DEVELOPMENT OF GOVERNMENT REAL PROPERTY
shall not be subject to real estate taxes, except that any improvements shall be taxed in the same manner as any other private property. At the end of the first five (5) years, both the leasehold interests as well as the improvements shall be subject to real estate taxes.