Title 12 — Banks and BankingRelease 119-73not60
§1706b Taxation of Real Property Held by Secretary
Title 12 › Chapter 13— NATIONAL HOUSING › Subchapter I— HOUSING RENOVATION AND MODERNIZATION › § 1706b
Summary
Real property the Secretary holds because of insurance payments must be taxed by States and local governments like other property, by value.
Full Legal Text
Title 12, §1706b
Banks and Banking — Source: USLM XML via OLRC
Nothing in this subchapter shall be construed to exempt any real property acquired and held by the Secretary in connection with the payment of insurance heretofore or hereafter granted under this subchapter from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner”. 1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator”.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1706b
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60