Statutes, codes, and regulations
Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCEArticle 5.1 - PUBLIC UTILITY ASSESSMENT
Rule 50 IAC 5.1-6 - Valuation of Depreciable Personal Property
Section 50 IAC 5.1-6-11 - Abnormal obsolescence

50 Ind. Admin. Code 5.1-6-11

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Current through November 6, 2024
Section 50 IAC 5.1-6-11 - Abnormal obsolescence

Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8-26

Sec. 11.

(a) An adjustment for abnormal obsolescence, as defined in 50 IAC 5.1-11-1(3), may be permitted in accordance with 50 IAC 5.1-11-3.
(b) No adjustment will be allowed for normal obsolescence as defined in 50 IAC 5.1-11-1(2).
(c) The dollar amount of the adjustment for the depreciable personal property under this section may not exceed the tentative true tax value as computed in sections 7 and 8 of this rule for the specific unit or units of depreciable personal property on which the taxpayer claims the adjustment.

50 IAC 5.1-6-11

Department of Local Government Finance; 50 IAC 5.1-6-11; filed Dec 15, 1993, 5:00 p.m.: 17 IR 962; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003