2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 1. General Definitions and Rules of Construction
6-1.1-1-11. "Personal property"

Universal Citation: IN Code § 6-1.1-1-11 (2018)
IC 6-1.1-1-11 "Personal property"

     Sec. 11. (a) Subject to the limitation contained in subsection (b), "personal property" means:

(1) billboards and other advertising devices which are located on real property that is not owned by the owner of the devices;

(2) foundations (other than foundations which support a building or structure) on which machinery or equipment:

(A) held for sale in the ordinary course of a trade or business;

(B) held, used, or consumed in connection with the production of income; or

(C) held as an investment;

is installed;

(3) all other tangible property (other than real property) which:

(A) is being held as an investment; or

(B) is depreciable personal property; and

(4) mobile homes that do not qualify as real property and are not described in subdivision (3).

     (b) Personal property does not include the following:

(1) Commercially planted and growing crops while in the ground.

(2) Computer application software.

(3) Inventory.

[Pre-1975 Property Tax Recodification Citations: 6-1-20-4 part; 6-1-20-5.]

Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.41-1984, SEC.1; P.L.98-1989, SEC.3; P.L.214-2005, SEC.10; P.L.146-2008, SEC.48; P.L.131-2008, SEC.2; P.L.1-2009, SEC.26.

 

Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.