Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM
Rule 7 - Property Tax and Billing Calculation Standards
Section 7-4 - Economic revitalization area deduction
Universal Citation: 50 IN Admin Code 7-4
Current through September 18, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-12.1; IC 6-1.1-31.5
Sec. 4.
Tax and billing software must be able to do the following:
(1) Calculate economic revitalization area deductions in the manner prescribed under IC 6-1.1-12.1.
(2) Identify the following elements necessary for calculation of an economic revitalization area deduction:
(A) Parcel or property receiving
the deduction.
(B) The number of
years the parcel or property is to receive the deduction.
(C) The percentage of the deduction for each
year the parcel or property is to receive the deduction.
(D) The assessed value eligible to receive
the deduction.
(E) The specific
improvement to receive the deduction, if multiple improvements exist on a
parcel receiving a deduction.
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