"Severed interest"
Ind. Code § 6-1.1-23.9-2.5
in effectSec. 2.5. "Severed interest" means:
(1) an improvement;
(2) mineral rights;
(3) air rights;
(4) water rights; or
(5) other rights in property in, on, under, or above the land;
for which the owner or holder of the interest identified in the current real property tax records of the county auditor is sent a separate property tax statement.
As added by P.L.7-2023, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/6Fetched: 10/17/2026