50 Ind. Admin. Code 5.1-3-7

Current through December 12, 2024

Section 50 IAC 5.1-3-7 - Liability for taxes

Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-2-4; IC 6-1.1-8-1

Sec. 7.

(a) The owner of any tangible property on the assessment date of a year is liable for the taxes imposed on the property for that year.

(b) A public utility company holding, possessing, controlling, or occupying any tangible property on the assessment date of a year is liable for the taxes imposed on the property for that year unless:

(1) the public utility company establishes that the property is being assessed and taxed in the name of the owner; or

(2) the owner is liable for the taxes under a contract with that person.

(c) When a person other than the owner pays any property taxes as required by this section, that person may recover the amount paid from the owner, unless the parties have agreed to other terms in a contract.

50 IAC 5.1-3-7

Department of Local Government Finance; 50 IAC 5.1-3-7; filed Dec 15, 1993, 5:00 p.m.: 17 IR 956; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003