There is a newer version
of
this Section
2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 10. Exemptions
6-1.1-10-16.8. Exemption of the basement area of dwellings located in a flood plain; factors for the exemption
Universal Citation: IN Code § 6-1.1-10-16.8 (2018)
IC 6-1.1-10-16.8 Exemption of the basement area of dwellings located in a flood plain; factors for the exemption
Sec. 16.8. (a) This section applies to a dwelling or other building that is situated in a special flood hazard area as designated by the Federal Emergency Management Agency in which the mandatory purchase of flood insurance applies.
(b) The basement of a dwelling or other building described in subsection (a) is exempt from property taxation if:
(1) the basement floor level has been elevated to mitigate the risk of flooding; and
(2) as a result, the basement is rendered unusable as living space.
As added by P.L.249-2015, SEC.11.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
