Sec. 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.
"Severed interest"
Ind. Code § 6-1.1-23.9-2.5, under Chapter 23.9. Definitions Applicable to Chapters 24, 24.5, and 25.
Ind. Code § 6-1.1-23.9-2.5