Residents and nonresidents; place of assessment; evidence of filing
Sec. 1. (a) Except as provided in subsection (c) and section 11 of
this chapter, personal property which is owned by a person who is a
resident of this state shall be assessed at the place where the owner
resides on the assessment date of the year for which the assessment
is made.
(b) Except as provided in subsection (c) and section 11 of this
chapter, personal property which is owned by a person who is not a
resident of this state shall be assessed at the place where the owner's
principal office within this state is located on the assessment date of
the year for which the assessment is made.
(c) Personal property shall be assessed at the place where it is
situated on the assessment date of the year for which the assessment
is made if the property is:
(1) regularly used or permanently located where it is situated;
or
(2) owned by a nonresident who does not have a principal office
within this state.
(d) If a personal property return is filed pursuant to subsection (c),
the owner of the property shall provide, within forty-five (45) days
after the filing deadline, a copy or other written evidence of the filing
of the return to the assessor of the township in which the owner
resides. If such evidence is not filed within forty-five (45) days after
the filing deadline, the assessor of the township in which the owner
resides shall determine if the owner filed a personal property return
in the township where the property is situated. If such a return was
filed, the property shall be assessed where it is situated. If such a
return was not filed, the assessor of the township where the owner
resides shall notify the assessor of the township where the property
is situated, and the property shall be assessed where it is situated.
This subsection does not apply to a taxpayer who:
(1) is required to file duplicate personal property returns under
section 7(c) of this chapter and under regulations promulgated
by the department of local government finance with respect to
that section; or
(2) is required by the department of local government finance
to file a summary of the taxpayer's business tangible personal
property returns.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by Acts 1979,
P.L.48, SEC.1; Acts 1980, P.L.35, SEC.1; P.L.2-1998, SEC.14;
P.L.90-2002, SEC.21; P.L.74-2003, SEC.1.
Last modified: May 28, 2006