College fraternities or sororities
Sec. 24. (a) Subject to the limitations contained in subsection (b)
of this section, the following tangible property is exempt from
property taxation if it is owned by a fraternity or sorority:
(1) a tract of land not exceeding one (1) acre;
(2) the improvements situated on the tract of land; and
(3) all personal property.
(b) This exemption does not apply unless:
(1) the fraternity or sorority is connected with, and under the
supervision of, a college, university, or other educational institution;
and
(2) the property is used exclusively by the fraternity or sorority to
carry out its purpose.
(Formerly: Acts 1975, P.L.47, SEC.1.)
Last modified: May 28, 2006