Indiana Code 6-1.1-11-3.8. Notice to county assessor of lease of certain property; county assessor notice to department of local government finance; department rules
(1) exempt from property taxes:
Terms Used In Indiana Code 6-1.1-11-3.8
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- 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
- 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.
(B) under:
(i) IC 6-1.1-10-2; or
(ii) IC 6-1.1-10-4; and
(2) leased to an entity other than:
(A) a nonprofit entity;
(B) a governmental entity; or
(C) an individual who leases a dwelling unit in:
(i) a public housing project;
(ii) a nursing facility referred to in IC 12-15-14;
(iii) an assisted living facility; or
(iv) an affordable housing development.
(b) After December 31, 2003, each lessor of real property shall notify the county assessor of the county in which the real property is located in writing of:
(1) the existence of the lease referred to in subsection (a)(2);
(2) the term of that lease; and
(3) the name and address of the lessee.
(c) Each county assessor shall annually notify the department of local government finance in writing of the information received by the county assessor under subsection (b).
(d) The department of local government finance may adopt rules to:
(1) establish when the notices under subsections (b) and (c) must be given; and
(2) otherwise implement this section.
As added by P.L.264-2003, SEC.6. Amended by P.L.203-2016, SEC.3.