Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM
Rule 6 - Property Assessment Calculation Standards
Section 6-3 - Homestead eligibility
Current through December 25, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-12-37; IC 6-1.1-20.6; IC 6-1.1-31.5
Sec. 3.
The assessment system must be able to separate the assessed value into the gross assessed value of each of the following:
(1) Land eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37.
(2) Improvements eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37.
(3) Land eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6 1.1-20.6-4.
(4) Improvements eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6-1.1-20.6-4.
(5) Land eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5.
(6) Improvements and personal property eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5.
(7) Other elements as required by statute eliminating the need for reentry in the tax and billing system.
