Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 4.2 - ASSESSMENT OF TANGIBLE PERSONAL PROPERTY
Rule 11.1 - Deductions and Exemptions for Business Personal Property
Section 11.1-5 - Waiver of exemption
Universal Citation: 50 IN Admin Code 11.1-5
Current through March 20, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-11-1
Sec. 5.
An exemption is a privilege which may be waived by a person who owns property that would qualify for the exemption. If the owner does not comply with the statutory procedures for obtaining an exemption, it waives the exemption. If the exemption is waived, the property is subject to taxation (IC 6-1.1-11-1 ).
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