Indiana Code 6-1.1-8.7-2. “Industrial facility”
Current as of: 2023 | Check for updates
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Sec. 2. As used in this chapter, “industrial facility” means a company’s real property that:
(2) has a true tax value, as estimated by the department, of at least thirty-five million dollars ($35,000,000) in a county.
(1) has been classified as industrial property under the rules of the department; and
Terms Used In Indiana Code 6-1.1-8.7-2
- department: refers to the department of local government finance. See Indiana Code 6-1.1-8.7-1
- 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.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
The term includes real property that is used under an agreement under which the user exercises the beneficial rights of ownership for the majority of a year. The term does not include real property assessed under IC 6-1.1-8.
As added by P.L.198-2001, SEC.27. Amended by P.L.159-2020, SEC.13.