Indiana Code 36-9-24-12. Tax liability and exemptions
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Terms Used In Indiana Code 36-9-24-12
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Sec. 12. Facilities leased to a municipality under this chapter are exempt from all state, county, and other taxes. However, the rental paid to a lessor under the terms of such a lease is subject to all applicable taxes.
[Pre-Local Government Recodification Citation: 19-2-5.5-9.]
As added by Acts 1981, P.L.309, SEC.97. Amended by P.L.186-1988, SEC.8.