Vacant Historic Building Qualified for Indiana Property Tax Exemption

Vacant Historic Building Qualified for Indiana Property Tax Exemption

  In Historic Landmarks Foundation of Indiana Inc. v. Vigo County Assessor, Pet. No. 84-002-11-2-8-02178 (June 10, 2014), a nonprofit Corporation claimed a 100% exemption on a property that was vacant on the March 1, 2011, assessment date.  The Corporation purchased a historic building on February 11, … [Read more...]

New Law Nullifies Property Tax Exemption for Buildings Sold by Nonprofits

New Law Nullifies Property Tax Exemption for Buildings Sold by Nonprofits

What happens to a property tax exemption when a nonprofit sells its building to an entity that will use it for a non-exempt purpose? As of July 1, 2014, and extending through 2015, the new owner will owe property tax on the property for the next 2014-pay-2015 or 2015-pay-2016 installment, regardless of the … [Read more...]