Disabled veteran; prerequisites for deduction
Sec. 14. (a) Except as provided in subsection (c) and except as
provided in section 40.5 of this chapter, an individual may have the
sum of twelve thousand four hundred eighty dollars ($12,480)
deducted from the assessed value of the tangible property that the
individual owns (or the real property, mobile home not assessed as
real property, or manufactured home not assessed as real property
that the individual is buying under a contract that provides that the
individual is to pay property taxes on the real property, mobile home,
or manufactured home if the contract or a memorandum of the
contract is recorded in the county recorder's office) if:
(1) the individual served in the military or naval forces of the
United States for at least ninety (90) days;
(2) the individual received an honorable discharge;
(3) the individual either:
(A) is totally disabled; or
(B) is at least sixty-two (62) years old and has a disability of
at least ten percent (10%); and
(4) the individual's disability is evidenced by:
(A) a pension certificate or an award of compensation issued
by the United States Department of Veterans Affairs; or
(B) a certificate of eligibility issued to the individual by the
Indiana department of veterans' affairs after the Indiana
department of veterans' affairs has determined that the
individual's disability qualifies the individual to receive a
deduction under this section.
(b) Except as provided in subsection (c), the surviving spouse of
an individual may receive the deduction provided by this section if
the individual would qualify for the deduction if the individual were
alive.
(c) No one is entitled to the deduction provided by this section if
the assessed value of the individual's tangible property, as shown by
the tax duplicate, exceeds one hundred thirteen thousand dollars
($113,000).
(d) An individual who has sold real property, a mobile home not
assessed as real property, or a manufactured home not assessed as
real property to another person under a contract that provides that the
contract buyer is to pay the property taxes on the real property,
mobile home, or manufactured home may not claim the deduction
provided under this section against that real property, mobile home,
or manufactured home.
(Formerly: Acts 1975, P.L.47, SEC.1; Acts 1975, P.L.21, SEC.6.) As
amended by Acts 1982, P.L.45, SEC.6; P.L.68-1983, SEC.2;
P.L.60-1985, SEC.2; P.L.332-1989(ss), SEC.8; P.L.1-1990, SEC.69;
P.L.48-1996, SEC.3; P.L.6-1997, SEC.49; P.L.123-1999, SEC.3;
P.L.291-2001, SEC.136; P.L.272-2003, SEC.2; P.L.20-2004, SEC.4.
Last modified: May 28, 2006