Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 5.1 - PUBLIC UTILITY ASSESSMENT
Rule 6 - Valuation of Depreciable Personal Property
Section 6-9 - Minimum value

Universal Citation: 50 IN Admin Code 6-9

Current through December 25, 2024

Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8-26

Sec. 9.

(a) The total value of the distributable depreciable personal property cannot be less than thirty percent (30%) of the adjusted cost of the distributable personal property.

(b) The total value of the locally assessed depreciable personal property in a single taxing district cannot be less than thirty percent (30%) of the adjusted cost of the locally assessed personal property in that taxing district.

(c) The thirty percent (30%) minimum value test shall be applied prior to any special adjustment for abnormal obsolescence or permanently retired depreciable personal property. The limitation does not apply to construction in progress under 50 IAC 5.1-9-1(a) or special tooling under 50 IAC 5.1-9-1(b).

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