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 4-3 - One deduction per residence in inventory per year

Universal Citation: 50 IN Admin Code 4-3

Current through September 18, 2024

Authority: IC 6-1.1-12.8-8

Affected: IC 6-1.1-12.8

Sec. 3.

(a) An owner of a residence in inventory that qualifies for the residence in inventory deduction and also qualifies for a deduction under another statute with respect to the same residence in inventory may not receive a deduction under both statutes for that year.

(b) A county auditor who receives claims for more than one (1) deduction with respect to a residence in inventory may approve only one (1) of the deductions. If the residence in inventory owner is otherwise qualified, the county auditor must approve the deduction that results in the greater property tax saving for the owner of the residence in inventory.

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