Passenger motor vehicles; exemption
Sec. 31.5. A passenger motor vehicle (as defined in
IC 9-13-2-123) is exempt from personal property tax if the vehicle is:
(1) owned by a nonresident motor vehicle dealer that is not a
motor vehicle manufacturer;
(2) operational and in compliance with IC 9-19-2 through
IC 9-19-6, IC 9-19-8, IC 9-19-12, IC 9-19-14 through
IC 9-19-15, IC 9-19-18 through IC 9-19-19, and IC 9-21-7.
(3) in the possession of a resident under an agreement requiring
the resident to ship the vehicle to the owner; and
(4) not held by the resident for resale.
As added by P.L.79-1989, SEC.1. Amended by P.L.2-1991, SEC.35.
Last modified: May 28, 2006