(a) Subject to the limitations contained in subsection (b), 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.(2) The improvements situated on the tract of land.(b) This exemption does not apply unless:(1) the association is organized under IC 15-14-3-1; and(2) the property is exclusively used and occupied for the purposes specified in IC 15-14-3-1.[Pre-1975 Property Tax Recodification Citation: 6-1-1-2(7) part.]Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.86-2018, SEC.40.
Indiana Legal Code