Indiana Code — Title 6 (Taxation)
IC 6-1.1-10-16.8
Exemption of the basement area of dwellings located in a flood
Official textiga.in.govlast amended
plain; factors for the exemption
Sec. 16.8. (a) This section applies to a dwelling or other building that is situated in a special flood hazard area as designated by the Federal Emergency Management Agency in which the mandatory purchase of flood insurance applies.
(b) The basement of a dwelling or other building described in subsection (a) is exempt
from property taxation if:
# (1)
the basement floor level has been elevated to mitigate the risk of flooding; and
# (2)
as a result, the basement is rendered unusable as living space.
As added by P.L.249-2015, SEC.11.
Amendment history
As added by P.L.249-2015, SEC.11.
Source: view the official text
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