Sec. 2. As used in this chapter, "industrial facility" means a company's real property that:
(1) has been classified as industrial property under the rules of the department of local government finance; and
(2) has a true tax value, as estimated by the department, of at least thirty-five million dollars ($35,000,000) in a qualifying county.
The term includes real property that is used under an agreement under which the user exercises the beneficial rights of ownership for the majority of a year. The term does not include real property assessed under IC 6-1.1-8.
As added by P.L.151-2001, SEC.3. Amended by P.L.90-2002, SEC.89; P.L.159-2020, SEC.10.
Structure Indiana Code
Chapter 8.5. Assessment of Industrial Facilities in Lake County
6-1.1-8.5-1. "Industrial Company" Defined
6-1.1-8.5-2. "Industrial Facility" Defined
6-1.1-8.5-3. "Qualifying County" Defined
6-1.1-8.5-5. Facility to Be Assessed in Prescribed Manner
6-1.1-8.5-7. Notice of Newly Constructed Facilities
6-1.1-8.5-9. Support of Department's Assessor