Indiana Code - Taxation - Title 6, Section 6-1.1-11-1

Waiver of exemption

Sec. 1. An exemption is a privilege which may be waived by a
person who owns tangible property that would qualify for the
exemption. If the owner does not comply with the statutory
procedures for obtaining an exemption, he waives the exemption. If
the exemption is waived, the property is subject to taxation.
(Formerly: Acts 1975, P.L.47, SEC.1.)

Last modified: May 28, 2006