Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 24 - STANDARD DEDUCTION FOR HOMESTEADS
Rule 4 - Application for the Homestead Standard Deduction
Section 4-3 - Application using sales disclosure form

Universal Citation: 50 IN Admin Code 4-3

Current through September 18, 2024

Authority: IC 6-1.1-12-37

Affected: IC 6-1.1-12-37

Sec. 3.

(a) An individual who is qualified and desires to obtain the homestead standard deduction, and is otherwise required to complete a sales disclosure form (State Form 46021), may use the sales disclosure form (State Form 46021) as an application for the homestead standard deduction by completing the applicable portion of the sales disclosure form (State Form 46021).

(b) The individual must indicate whether the property will be used as a primary residence.

(c) The individual must sign certifying that the form is true and correct and complete as required by law.

(d) A sales disclosure form that is submitted as a paper form or electronically on or before December 31 of a calendar year to the county assessor by or on behalf of the purchaser of a homestead assessed as real property:

(1) that is accurate and complete;

(2) that is approved by the county assessor as eligible for filing with the county auditor; and

(3) that is filed as a paper form or electronically; with the county auditor by or on behalf of the purchaser, constitutes an application for the deduction with respect to property taxes first due and payable in the calendar year that immediately succeeds the calendar year when the application was filed with the county assessor.

(e) Except as provided in subsection (f), if:

(1) the county auditor receives a sales disclosure form that meets the requirements of subsection (d); and

(2) the homestead for which the sales disclosure form is submitted is otherwise eligible for a deduction referred to in subsection (a); the county auditor must apply the deduction to the homestead for property taxes first due and payable in the calendar year for which the homestead qualifies under subsection (a) and in any later year in which the homestead remains eligible for the deduction.

(f) Subsection (e) does not apply if the county auditor, after receiving a sales disclosure form, determines the homestead is ineligible for the deduction.

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