Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 5.1 - PUBLIC UTILITY ASSESSMENT
Rule 6 - Valuation of Depreciable Personal Property
Section 6-11 - Abnormal obsolescence
Universal Citation: 50 IN Admin Code 6-11
Current through September 18, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26
Sec. 11.
(a) An adjustment for abnormal obsolescence, as defined in 50 IAC 5.1-11-1(3), may be permitted in accordance with 50 IAC 5.1-11-3.
(b) No adjustment will be allowed for normal obsolescence as defined in 50 IAC 5.1-11-1(2).
(c) The dollar amount of the adjustment for the depreciable personal property under this section may not exceed the tentative true tax value as computed in sections 7 and 8 of this rule for the specific unit or units of depreciable personal property on which the taxpayer claims the adjustment.
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