Ind. Code § 6-1.1-10-5 – Municipal property

(a) Property is exempt from property taxation if it is owned by a city or town and is used to provide a municipal service.
(b) For purposes of this section, property used to provide a municipal service includes:
1. (1) a public school or library;
2. (2) a municipally owned park, golf course, playground, swimming pool, hospital, waterworks, electric utility, gas or heating plant, sewage treatment or disposal plant, cemetery, auditorium, or gymnasium; and
3. (3) any other municipally owned property, utility, or institution.
  [Pre-1975 Property Tax Recodification Citation: 6-1-13-1.]
  Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1977, P.L.2, SEC.15.