Indiana Code 5-20-1-21. Tax exempt status
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Terms Used In Indiana Code 5-20-1-21
- Authority: means the Indiana housing and community development authority created by section 3 of this chapter. See Indiana Code 5-20-1-2
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- notes: means the bonds or notes authorized to be issued by the authority under this chapter. See Indiana Code 5-20-1-2
- Obligations: means any bonds or notes authorized to be issued by the authority under this chapter. See Indiana Code 5-20-1-2
- 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.
- State: means the state of Indiana. See Indiana Code 5-20-1-2
Sec. 21. 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.