Madison General Hospital Ass'n v. City of Madison

This case poses a variation on the facts considered in First National Leasing Corp. v. Madison, 81 Wis.2d 205, 260 N.W.2d 251 (1977). In First National Leasing, we held that sec. 70.11 (4m), Stats., 1 provided an exemption from taxation for all personal property that was physically used exclusively by nonprofit hospitals. Therein we decided that, to qualify for the exemption, the property need not be owned by the hospital and that eligibility for exemption was not destroyed because the owner, lessor of the property, made a profit or used its equity in the leased property for security…