Section 50 IAC 28-4-1 - Limit of three residence in inventory deductionsAuthority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
(a) An owner of a qualified residence in inventory who is not an affiliated group as defined in 50 IAC 28-2-2 may not receive the deduction for more than three (3) qualified residences in inventory in Indiana for a particular assessment date. (b) Owners of residences in inventory who are part of an affiliated group as defined in 50 IAC 28-2-2 may not exceed an aggregate of three (3) residences in inventory deductions for a particular assessment date. Department of Local Government Finance; 50 IAC 28-4-1; filed Sep 18, 2012, 2:20 p.m.: 20121017-IR-050120382FRA