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2017 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 8.5. Assessment of Industrial Facilities in Lake County
6-1.1-8.5-2. "Industrial facility" defined
Universal Citation: IN Code § 6-1.1-8.5-2 (2017)
IC 6-1.1-8.5-2 "Industrial facility" defined
Sec. 2. As used in this chapter, "industrial facility" means a company's real property that:
(1) has been classified as industrial property under the rules of the department of local government finance; and
(2) has a true tax value, as estimated by the department, of at least twenty-five million dollars ($25,000,000) in a qualifying county.
The term includes real property that is used under an agreement under which the user exercises the beneficial rights of ownership for the majority of a year. The term does not include real property assessed under IC 6-1.1-8.
As added by P.L.151-2001, SEC.3. Amended by P.L.90-2002, SEC.89.
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