Indiana Statutes
§ 6-1.1-10-6 — Municipally owned water company property
Indiana § 6-1.1-10-6
This text of Indiana § 6-1.1-10-6 (Municipally owned water company property) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 6-1.1-10-6 (2026).
Text
(a)Property which is owned by a domestic
corporation of this state is exempt from property taxation if:
(1)the corporation owns a water system or waterworks;
(2)the corporation is, pursuant to a contract, supplying its entire
output of water at wholesale rates to a city or town of this state;
and
(3)the city or town which receives the water owns at least
ninety-five percent (95%) of the corporation's capital stock.
(b)For purposes of this section, stock is preferred stock and not
capital stock if:
(1)fixed dividends are payable to the stock owner at a rate not to
exceed six percent (6%) per year; and
(2)the stock owner has no further right to participate in the profits
of the corporation.
[Pre-1975 Property Tax Recodification Citation:
6-1-15-1.]
Formerly: Acts 1975, P.L.47, SEC.1.
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Related
St. Mary's Building Corporation v. Sarah E. Redman, Warrick County Assessor
(Indiana Tax Court, 2019)
Nearby Sections
15
§ 6-1.1-1-1
Applicability§ 6-1.1-1-1.5
"Assessing official"§ 6-1.1-1-10
"Person"§ 6-1.1-1-11
"Personal property"§ 6-1.1-1-12
"Political subdivision"§ 6-1.1-1-13
Repealed§ 6-1.1-1-14
"Property taxation"§ 6-1.1-1-15
"Real property"§ 6-1.1-1-16
"School corporation"§ 6-1.1-1-17
"Special assessment"§ 6-1.1-1-18
"State agency"§ 6-1.1-1-19
"Tangible property"§ 6-1.1-1-2
"Assessment date"§ 6-1.1-1-20
"Taxing district"§ 6-1.1-1-21
"Taxing unit"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 6-1.1-10-6, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/6-1.1-10-6.