Section 6-1.1-10-2 - State property; property leased to a state agency(a) Except as otherwise provided by law, the property owned by this state, a state agency, or the bureau of motor vehicles commission is exempt from property taxation.(b) Real property leased to a state agency is exempt from property taxes if the lease, regardless of the commencement date, requires the state agency to reimburse the owner for property taxes. If a state agency leases less than all of a parcel of real property, the exemption provided by this subsection is a partial exemption that is equal to the part of the gross assessed value of the real property attributable to the part of the real property leased by the state agency.Pre-1975 Property Tax Recodification Citations: 6-1-1-2(1) part; 6-1-1-2(21).
Amended by P.L. 257-2013, SEC. 3, eff. 1/1/2014.(Formerly: Acts1975 , P.L. 47, SEC.1.) As amended by P.L. 2-1991, SEC.34.