Rehabilitated property; certified deduction application
Sec. 24. (a) A property owner who desires to obtain the deduction
provided by section 22 of this chapter must file a certified deduction
application, on forms prescribed by the department of local
government finance, with the auditor of the county in which the
property is located. The application may be filed in person or by
mail. If mailed, the mailing must be postmarked on or before the last
day for filing. Except as provided in subsection (b), the application
must be filed before May 10 of the year in which the addition to
assessed valuation is made.
(b) If notice of the addition to assessed valuation for any year is
not given to the property owner before April 10 of that year, the
application required by this section may be filed not later than thirty
(30) days after the date such a notice is mailed to the property owner
at the address shown on the records of the township assessor.
(c) The application required by this section shall contain the
following information:
(1) the name of the property owner;
(2) a description of the property for which a deduction is
claimed in sufficient detail to afford identification;
(3) the assessed value of the improvements on the property
before rehabilitation;
(4) the increase in the assessed value of improvements resulting
from the rehabilitation; and
(5) the amount of deduction claimed.
(d) A deduction application filed under this section is applicable
for the year in which the addition to assessed value is made and in
the immediate following four (4) years without any additional
application being filed.
(e) On verification of the correctness of an application by the
assessor of the township in which the property is located, the county
auditor shall make the deduction.
(Formerly: Acts 1975, P.L.47, SEC.1; Acts 1975, P.L.53, SEC.2.) As
amended by Acts 1979, P.L.56, SEC.17; P.L.90-2002, SEC.113.
Last modified: May 28, 2006