§ 6-1.1-12-33 — Deduction for hydroelectric power device; limitations

(a) For purposes of this section
"hydroelectric power device" means a device which is installed after
December 31, 1981, and is designed to utilize the kinetic power of
moving water to provide mechanical energy or to produce electricity.
(b) The owner of real property, or a mobile home that is not assessed
as real property, that is equipped with a hydroelectric power device is
annually entitled to a property tax deduction. The amount of the
deduction equals the remainder of:
(1) the assessed value of the real property or mobile home with
the hydroelectric power device; minus
(2) the assessed value of the real property or mobile home without
the hydroelectric power device.
(c) The deduction provided by this section applies only if the
property owner:
(1) owns the real property or mobile home; or
(2) is buying the real property or mobile home under contract;
on the date the statement is filed under section 35.5 of this chapter.
(d) This section applies only to property taxes imposed for an
assessment date before January 1, 2025.
(e) This section expires January 1, 2027.
As added by Acts 1981, P.L.71, SEC.1. Amended by
P.L.144-2008, SEC.32; P.L.68-2025, SEC.40.