Entitlement to credit
Sec. 4. (a) Except as provided in subsection (b), an individual is
entitled to a credit under this chapter if the:
(1) individual's earned income for the taxable year is less than
eighteen thousand six hundred ($18,600); and
(2) the individual pays property taxes in the taxable year on a
homestead that:
(A) the individual:
(i) owns; or
(ii) is buying under a contract that requires the individual
to pay property taxes on the homestead, if the contract or
a memorandum of the contract is recorded in the county
recorder's office; and
(B) is located in a county having a population of more than
four hundred thousand (400,000) but less than seven
hundred thousand (700,000).
(b) An individual is not entitled to a credit under this chapter for
a taxable year for property taxes paid on the individual's homestead
if the individual claims the deduction under IC 6-3-1-3.5(a)(17) for
the homestead for that same taxable year.
As added by P.L.151-2001, SEC.5.
Last modified: May 28, 2006