Sec. 37. (a) This section does not apply to the
lease of a dwelling unit within a public housing project by the tenant of that dwelling unit.
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Terms Used In Indiana Code 6-1.1-10-37
- 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
- Personal property: All property that is not real property.
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
(c) If personal property that is exempt from taxation is leased to another whose property is not exempt and the leasing of the personal property does not make it taxable, the leased personal property shall be assessed and taxed as if it were personal property owned by the lessee or his assignee.
[Pre-1975 Property Tax Recodification Citation: 6-1-1-4.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.42-1984, SEC.1; P.L.59-1986, SEC.1.
