§ 6-1-1-10-2

(b) Real property leased to a state agency is exempt from property taxes if the lease, regardless of the commencement date, requires the state agency to reimburse the owner for property taxes. If a state agency leases less than all of a parcel of real property, the exemption provided by this subsection is a partial exemption that is equal to the part of the gross assessed value of the real property attributable to the part of the real property leased by the state agency.[Pre-1975 Property Tax Recodification Citations: 6-1-1-2(1) part; 6-1-1-2(21).]Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.2-1991, SEC.34; P.L.257-2013, SEC.3.