Indiana Code 21-31-4-3. Application of section; tax exemption
(1) Ball State University.
Terms Used In Indiana Code 21-31-4-3
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) Indiana State University.
(4) Purdue University.
(5) University of Southern Indiana.
(b) This chapter does not deny any tax exemption that a lessee would have under other laws if the lessee were the owner in fee simple of the real estate.
(c) A state educational institution is exempt from all property taxes on any real estate leased under this chapter. The lessee of real estate leased under this chapter is liable for property taxes on the leased real estate as if the real estate were owned by the lessee in fee simple, unless the lessee is a student living in facilities owned by the state educational institution.
[Pre-2007 Higher Education Recodification Citations: 20-12-1-2(c); 20-12-1-2(b) part.]
As added by P.L.2-2007, SEC.272.