Section 50 IAC 28-4-3 - One deduction per residence in inventory per yearAuthority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 3.
(a) An owner of a residence in inventory that qualifies for the residence in inventory deduction and also qualifies for a deduction under another statute with respect to the same residence in inventory may not receive a deduction under both statutes for that year. (b) A county auditor who receives claims for more than one (1) deduction with respect to a residence in inventory may approve only one (1) of the deductions. If the residence in inventory owner is otherwise qualified, the county auditor must approve the deduction that results in the greater property tax saving for the owner of the residence in inventory. Department of Local Government Finance; 50 IAC 28-4-3; filed Sep 18, 2012, 2:20 p.m.: 20121017-IR-050120382FRA