Indiana Code 6-1.1-8-1. Property owned or used by public utility company
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Terms Used In Indiana Code 6-1.1-8-1
- property: includes both tangible and intangible property. See Indiana Code 6-1.1-8-2
- public utility company: means a company which is subject to taxation under this chapter regardless of whether the company is operated by an individual, a partnership, an association, a corporation, a limited liability company, a fiduciary, or any other entity. See Indiana Code 6-1.1-8-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 1. The property owned or used by a public utility company shall be taxed in the manner prescribed in this chapter. Property used by a public utility company consists of property which the company uses under an agreement whereby the company exercises the beneficial rights of ownership for the major part of a year. When reference is made in this chapter to the “property of” a public utility company or to the public utility “company’s property”, the reference includes the property owned or used by that company.
[Pre-1975 Property Tax Recodification Citation: 6-1-44-3 part.]
Formerly: Acts 1975, P.L.47, SEC.1.