11 Guam Code Ann. § 24401
Terms Used In 11 Guam Code Ann. § 24401
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) all property title to which is in the United States or the government of Guam, except as authorized in 60114.1(b) of Article 1 of Chapter 60, Title 21, Guam Code Annotated; except for the interest of a lessee or licensee in land owned and leased or licensed by the Chamorro Land Trust Commission;
(1) Notwithstanding this Subsection (a), taxes shall not be levied against any autonomous agency, public corporation, and other public instrumentalities of the government of Guam with existing leases where a tax levy may affect the revenue neutrality of that autonomous agency, public corporation, and other public instrumentalities of the government of Guam to the potential detriment of existing bond ratings.
(b) all property which 1s being used for public roads or easements;
(c) all property used exclusively for educational, religious, or other eleemosynary purposes;
(d) property included in any cemetery in use as such, and not conducted for profit;
(e) property upon which the provisions of § 61504 of Title 21, Guam Code Ann. prohibit the construction of buildings; and
(f) property used in active farming for at least eight (8)
months in any tax year.
COL 7/27/2023
11 Guam Code Ann. FINANCE & TAXATION
CH. 24 REAL PROPERTY TAX
SOURCE: GC § 19330. Subsection (f) added by P.L. 19-019:13. Amended by P.L. 31-076:2 (Sept. 19, 2011). Subsection (a) amended by P.L. 32-022:4 (May 3, 2013). Item (a)(1) added by P.L. 32-022:4 (May 3,
2013).