Indiana Statutes
§ 36-7-38-20 — Limitation on property tax exemption for leased property
Notwithstanding IC 6-1.1-10-4, after a land
bank acquires title to a parcel of real property, the property tax
exemption provided under IC 6-1.1-10-4 terminates for the parcel of
real property on the final day of the first uninterrupted forty-eight (48)
month period for which the land bank has leased, or offered to lease, all
or part of the parcel of real property to one (1) or more tenants.
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Legislative History
As added by P.L.211-2016, SEC.1.
Nearby Sections
15
§ 36-1-10-1
Application of chapter§ 36-1-10-10
Plans, specifications, and estimates for structures, systems, and
transportation projects§ 36-1-10-11
Property held in fee simple; sale procedure§ 36-1-10-12
Lease in anticipation of acquisition or construction of structure, system,
or transportation project§ 36-1-10-13
Hearing; procedure; execution of lease§ 36-1-10-17
Annual appropriation and tax levy§ 36-1-10-18
Tax exemption of leased structures, systems, and transportation
projects; taxation of rental paid lessor§ 36-1-10-19
Assignment or conveyance of lease; conveyance of structure, system,
or transportation project§ 36-1-10-2
Definitions§ 36-1-10-20
Repealed