50 Ind. Admin. Code 28-5-1

Current through November 6, 2024

Section 50 IAC 28-5-1 - Application of the deduction upon change of ownership

Authority: IC 6-1.1-12.8-8

Affected: IC 6-1.1-12.8

Sec. 1.

If ownership of the qualified residence in inventory changes:

(1) a new owner that is a residential builder for which the property is a residence in inventory may claim the residence in inventory deduction; and

(2) the deduction may not be applied for an assessment date other than the assessment dates to which the deduction could have applied if ownership had not changed.

50 IAC 28-5-1

Department of Local Government Finance; 50 IAC 28-5-1; filed Sep 18, 2012, 2:20 p.m.: 20121017-IR-050120382FRA