Statutes, codes, and regulations
Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCEArticle 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM
Rule 50 IAC 26-7 - Property Tax and Billing Calculation Standards
Section 50 IAC 26-7-2 - Exemptions

50 Ind. Admin. Code 26-7-2

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Current through December 12, 2024
Section 50 IAC 26-7-2 - Exemptions

Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5

Affected: IC 6-1.1-31.5

Sec. 2.

Tax and billing software must be able to do the following:

(1) Identify the following:
(A) The type of all exemptions contained in the Indiana Code.
(B) The type of property tax exemption.
(2) Designate assessed value as full or partially exempt as follows:
(A) Percentage of land assessed value to be exempt.
(B) Percentage of improvements assessed value to be exempt.

This designation of exempt percentages shall include information on which portion of the exemption applies to the 1%, 2%, or 3% property tax caps.

(3) Calculate each exemption according to specifications provided in the Indiana Code and by the department.

50 IAC 26-7-2

Department of Local Government Finance; 50 IAC 26-7-2; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA
Readopted filed 10/4/2024, 4:04 p.m.: 20241030-IR-050230833RFA