Which of the following is generally exempt from property taxes due to its ownership status?

Property owned by non-profit organizations is typically exempt from property taxes due to its status and the purpose of its ownership. Non-profits, particularly those that serve charitable, religious, or educational functions, often meet criteria established by state laws that allow them to qualify for property tax exemptions. The rationale is that these organizations provide services that benefit the community, and granting them tax exemption supports their mission.

In many jurisdictions, including California, non-profit organizations must apply for and maintain their tax-exempt status, which provides significant financial relief and allows them to allocate more resources toward their charitable activities.

Other entities, such as corporations or foreign entities, do not generally receive the same tax exemptions on property they own, as these properties are typically assessed under standard property tax laws. Residential properties also do not universally qualify for tax exemptions solely based on being residential; various exemptions may exist but are subject to specific conditions and qualifications.