Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES
Rule 3 - Procedures for the Assessment of Golf Courses
Section 3-2 - Exceptions to the valuation of golf courses
Universal Citation: 50 IN Admin Code 3-2
Current through March 20, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 2.
The value of personal property, intangible property, and income derived from personal or intangible property is excluded from the valuation of golf courses. Excluded from the income capitalization approach to valuation is income derived from pro shop merchandise sales and the income derived from the rental of golf carts.
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