{"data":{"id":"us-in/ic-6-1.1-2-7","jurisdiction":"us-in","citation":"IC 6-1.1-2-7","heading":"Exempt property","body":"Sec. 7. (a) As used in this section, \"nonbusiness personal property\" means personal property that is not:\n(1) held for sale in the ordinary course of a trade or business;\n(2) held, used, or consumed in connection with the production of income; or\n(3) held as an investment.\n(b) The following property is not subject to assessment and taxation under this article:\n(1) A commercial vessel that is subject to the net tonnage tax imposed under IC 6-6-6.\n(2) A vehicle that is subject to the vehicle excise tax imposed under IC 6-6-5.\n(3) A motorized boat or sailboat that is subject to the boat excise tax imposed under IC 6-6-11.\n(4) Property used by a cemetery (as defined in IC 23-14-33-7) if the cemetery:\n(A) does not have a board of directors, board of trustees, or other governing authority other than the state or a political subdivision; and\n(B) has had no business transaction during the preceding calendar year.\n(5) A commercial vehicle that is subject to the annual excise tax imposed under IC 6-6-5.5.\n(6) Inventory.\n(7) A recreational vehicle or truck camper that is subject to the annual excise tax imposed under IC 6-6-5.1.\n(8) The following types of nonbusiness personal property:\n(A) All-terrain vehicles.\n(B) Snowmobiles.\n(C) Rowboats, canoes, kayaks, and other human powered boats.\n(D) Invalid chairs.\n(E) Yard and garden tractors.\n(F) Trailers that are not subject to an excise tax under:\n(i) IC 6-6-5;\n(ii) IC 6-6-5.1; or\n(iii) IC 6-6-5.5.\n(9) For an assessment date after December 31, 2018, heavy rental equipment (as defined in IC 6-6-15-2) that is rented or held for rental or sale, the rental of which is or would be subject to the heavy equipment rental excise tax provisions under IC 6-6-15; provided, however, that a rentee that is exempt under IC 6-6-15-4(a)(3) from such excise tax shall be subject to the provisions of this article on such equipment.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 2. Imposition of Tax"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-2-7","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"81ac928dd2b22a8b9baa2cc21591acfb8708e6335393aeed5b8c77787de481d7","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-2-6","next":"us-in/ic-6-1.1-2-8"},"notice":"GroundRules: Original legal text. Not legal advice."}