Section 17C-1-301.5 - Agency property exempt from taxation - Exception(1) Agency property acquired or held for purposes of this title is public property used for essential public and governmental purposes and, subject to Subsection (2), is exempt from taxation by a taxing entity.(2) The exemption in Subsection (1) does not apply to property that the agency leases to a lessee unless the lessee is entitled to a tax exemption with respect to the property.Renumbered from § 17C-1-301 and amended by Chapter 350, 2016 General Session ,§ 29, eff. 5/10/2016.Renumbered and Amended by Chapter 359, 2006 General Session