Sec. 22. A tract of land, not exceeding one (1) acre, and the improvements situated on the land are exempt from property taxation if they are:

     (1) owned by a church; and

     (2) exclusively used by the church as a dormitory for the students of a college or university which is located within this state.

[Pre-1975 Property Tax Recodification Citation: 6-1-1-2(14).]

Formerly: Acts 1975, P.L.47, SEC.1.