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New for Indiana nonprofits – tax ruling

by Miriam - August 13th, 2009.
Filed under: Nonprofit.

The Indiana tax court ruled that landlords who rent to nonprofits may qualify for a tax exemption for their property taxes when they rent at a discount.  Interesting benefit to Indiana nonprofits, nice side effect for the landlord.

There is some concern that this may affect property tax revenues – will we see landlords rushing to the county auditor’s office to file for a property tax exemption, thus lowering the amount of county property tax revenue?  Maybe over time, but there would have to be a fair net benefit to the landlord:  rental income at less than fair market value + reduction (savings) on property tax exemption.

Check out the Indy star article:  Indiana Tax Court Ruling

Link to the Tax Court Ruling:  Oaken Bucket Partners – Heartland Church

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