Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY
Rule 5 - Change in Ownership
Section 5-1 - Application of the deduction upon change of ownership
Universal Citation: 50 IN Admin Code 5-1
Current through September 18, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
If ownership of the qualified residence in inventory changes:
(1) a new owner that is a residential builder for which the property is a residence in inventory may claim the residence in inventory deduction; and
(2) the deduction may not be applied for an assessment date other than the assessment dates to which the deduction could have applied if ownership had not changed.
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