§ 5-20-1-21 — Tax exempt status

Indiana § 5-20-1-21

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 20: HOUSING
• Ch. 1: Indiana Housing and Community Development Authority

Text

Tax Exempt Status. The authority shall not be
required to pay any taxes and assessments to the state, or any county,
municipality or other governmental subdivision of the state, upon any
of its property or upon its obligations or other evidences of
indebtedness pursuant to the provisions of this chapter, or upon any
moneys, funds, revenues or other income held or received by the
authority, and the notes and bonds of the authority and the income
therefrom shall at all times be exempt from taxation imposed by the
state, except for death and gift taxes and taxes on transfers. Real
property owned by the authority shall be exempt from all property
taxation and special assessments of the state or political subdivisions
thereof, but the authority may agree to pay, in lieu of such taxes, such
amounts as the authority finds consistent with the cost to the state or
political subdivision of supplying municipal services for such real
property and any housing development constructed thereon, which
payments such bodies are authorized to accept.
As added by Acts 1978, P.L.28, SEC.1.