2018 Indiana Code
TITLE 6. Taxation
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.


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