County or district agricultural associations
Sec. 26. (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 county or district agricultural
association of this state:
(1) a tract of land not exceeding eighty (80) acres; and
(2) the improvements situated on the tract of land.
(b) This exemption does not apply unless:
(1) the association is organized under IC 1971, 15-1-3; and
(2) the property is exclusively used and occupied for the purposes
specified in IC 1971, 15-1-3.
(Formerly: Acts 1975, P.L.47, SEC.1.)
Last modified: May 28, 2006