Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY
Rule 4 - Limitations on Residence in Inventory Deduction
Section 4-1 - Limit of three residence in inventory deductions
Universal Citation: 50 IN Admin Code 4-1
Current through September 18, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
(a) An owner of a qualified residence in inventory who is not an affiliated group as defined in 50 IAC 28-2-2 may not receive the deduction for more than three (3) qualified residences in inventory in Indiana for a particular assessment date.
(b) Owners of residences in inventory who are part of an affiliated group as defined in 50 IAC 28-2-2 may not exceed an aggregate of three (3) residences in inventory deductions for a particular assessment date.
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