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.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.