§ 272 — Taxation of district property

§ 272. Taxation of district property. All real property acquired for\nthe purposes of the county district shall be acquired in the name of\nsuch county district. Real property acquired in the name of the county\ndistrict shall be assessed for the purposes of taxation at the value\nthereof exclusive of improvements erected or installed by or on behalf\nof such county district, but in no case at less than the assessed\nvaluation at the time of acquisition by such county district, provided\nhowever, that in those cases where the county district acquires real\nproperty already containing improvements intended for the very purpose\nfor which the particular district was established, the real property so\nacquired shall be assessed at the value of the land alone, exclusive of\nsuch improvements. Except as provided above, such real property shall be\nvalued on an equitable basis with other comparable real property in the\ndistrict.\n