IC 6-1.1-10-26: County or district agricultural associations

Sec. 26. (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.