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 26-7-4 - Economic revitalization area deduction

50 Ind. Admin. Code 26-7-4

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Current through November 6, 2024
Section 50 IAC 26-7-4 - Economic revitalization area deduction

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

Affected: IC 6-1.1-12.1; IC 6-1.1-31.5

Sec. 4.

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

(1) Calculate economic revitalization area deductions in the manner prescribed under IC 6-1.1-12.1.
(2) Identify the following elements necessary for calculation of an economic revitalization area deduction:
(A) Parcel or property receiving the deduction.
(B) The number of years the parcel or property is to receive the deduction.
(C) The percentage of the deduction for each year the parcel or property is to receive the deduction.
(D) The assessed value eligible to receive the deduction.
(E) The specific improvement to receive the deduction, if multiple improvements exist on a parcel receiving a deduction.

50 IAC 26-7-4

Department of Local Government Finance; 50 IAC 26-7-4; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA