Leases, etc.: Amount

The following tax shall be paid on each lease, agreement, memorandum, or contract for the hire, use, or rent of any land or tenements, or portion thereof: (a) If for a period of one (1) year or less, One Dollar ($1.00). (b) If for a period of more than one (1) year, and not more than three (3) years, Two Dollars ($2.00). (c) If for a period of more than three (3) years, Three Dollars ($3.00). SOURCE: §19102 GC. Amended by P.L. 29-002:V:III:3 (May 18, 2007).