1. (a) If only a part of:

   1. (1) a tract or lot of land; or

   2. (2) a building;

      connected to the sewerage system is exempt from general taxation, the rates and charges established under this chapter shall be reduced by a fraction.

2. (b) The fraction to be used under subsection (a) is established by using:

   1. (1) the assessed valuation of the part subject to tax as the numerator; and

   2. (2) the total assessed value as the denominator.

      [Pre-1995 Recodification Citation: 13-3-6-7.]

As added by P.L.1-1995, SEC.26.