Indiana Code 36-7-25-6. Limitation on taxpayer’s right to challenge taxes or assessments; agreement; lien; priority
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Sec. 6. (a) Subject to section 6.5 of this chapter, a commission may enter into an agreement with a taxpayer in an allocation area that limits the taxpayer’s rights to challenge the taxpayer’s assessment or property taxes or that guarantees, enhances, or otherwise further secures bonds or lease obligations of the commission. The obligation to make payments under a taxpayer agreement that guarantee, enhance, or otherwise further secure bonds or lease obligations of the commission under this section shall be treated in the same manner as property taxes for purposes of IC 6-1.1-22-13, if, and to the extent that, the taxpayer agreement provides for a property tax lien.
(1) mortgage;
(b) A lien resulting from a taxpayer agreement described in subsection (a) takes priority over any existing or subsequent:
Terms Used In Indiana Code 36-7-25-6
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) other lien; or
(3) other encumbrance;
on the property and must have parity with a property tax lien described in IC 6-1.1-22-13.
(c) A lien resulting from a taxpayer agreement described in subsection (a) will have the priority of real property taxes described in IC 6-1.1-22-13 and may be enforced and collected in all respects as real property taxes.
As added by P.L.35-1990, SEC.62. Amended by P.L.147-1992, SEC.2; P.L.200-2016, SEC.3; P.L.46-2022, SEC.1.