Section 50 IAC 26-6-3 - Homestead eligibilityAuthority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-12-37; IC 6-1.1-20.6; IC 6-1.1-31.5
Sec. 3.
The assessment system must be able to separate the assessed value into the gross assessed value of each of the following:
(1) Land eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37.(2) Improvements eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37.(3) Land eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6 1.1-20.6-4.(4) Improvements eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6-1.1-20.6-4.(5) Land eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5.(6) Improvements and personal property eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5.(7) Other elements as required by statute eliminating the need for reentry in the tax and billing system.Department of Local Government Finance; 50 IAC 26-6-3; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRAReadopted filed 10/4/2024, 4:04 p.m.: 20241030-IR-050230833RFA