Property Tax Flow Chart
Real Property is defined as land located within this state and/or a building or fixture on land located within this state.
- Nursery stock severed from the ground
- Florists' stock for sale as potted plants
- Billboards and any other advertising devices
- Motor vehicles, mobile houses, airplanes, boats not subject to boat excise tax under IC 6-611
- Foundations (other than foundations which support a building or structure) on which machinery or equipment is installed
- All other tangible property which is being:(a) held for sale in the ordinary course of a trade or business; (B) held, used, or consumed in connection with the production of income; or held as an investment.
Mobile Home means a dwelling which is factory assembled, is transportable, is intended for year round occupancy and exceeds thirty-five feet in length.
Oil and Gas
Oil and Gas includes, but is not limited to royalties, overriding royalties, mineral rights; or working interest; in any oil or gas located beneath the surface of land which lies within this state.
The property owned or used by a public utility company consists of property which the company uses under an agreement whereby the company exercises the beneficial rights of ownership for the major part of the year. The companies subject to this taxation include:
- Bridge companies
- Bus companies
- Express companies
- Light, heat or power companies
- Pipeline companies
- Railroad companies
- Telephone, telegraph or cable companies
- Tunnel companies
- Water distribution companies
The following companies are NOT
subject to this tax:
- Aviation companies
- Broadcasting companies
- Television companies
- Water transportation companies
- Companies which are operated by municipality or municipal corporation, except those utility companies owned or held in trust by a first class city.