Amount of deduction; ground time
Sec. 14. The deduction applies to ad valorem property taxes
calculated using aircraft ground times. The amount of a deduction
available under section 12 or 13 of this chapter is equal to the
product of:
(1) one hundred percent (100%) of the assessed value of the
abatement property; multiplied by
(2) with respect to the ground time determined for purposes of
calculating ad valorem property taxes for the aircraft, the
quotient of:
(A) the ground time that immediately precedes a flight to an
Indiana destination; divided by
(B) the total ground time.
As added by P.L.224-2003, SEC.279.
Last modified: May 28, 2006