Sec. 18. (a) Tangible property is exempt from property taxation if it is owned by an Indiana not-for-profit
corporation which is organized and operated for the primary purpose of coordinating, promoting, encouraging, housing, or providing financial support to activities in the field of fine arts.
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Terms Used In Indiana Code 6-1.1-10-18
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(1) classical, semi-classical, or modern instrumental and vocal music;
(2) classical dance, including ballet, modern adaptations of formal dance, and ethnic dance;
(3) painting, drawing, and the graphic arts;
(4) sculpture;
(5) architecture;
(6) drama and musical theater.
[Pre-1975 Property Tax Recodification Citation: 6-1-1-2(25).]
Formerly: Acts 1975, P.L.47, SEC.1.
