IC 6-1.1-10-2 — State property; property leased to a state agency
Chapter 10. Exemptions
Section text
Sec. 2. (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.
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.2-1991, SEC.34; P.L.257-2013, SEC.3.
Source: official publisher (2026 edition)