Indiana § 6-1.1-12.4-2 Applicability of deduction entitlement; calculation of deduction
amount; filing requirements; adjustments

Indiana Statutes

§ 6-1.1-12.4-2 — Applicability of deduction entitlement; calculation of deduction amount; filing requirements; adjustments

Indiana § 6-1.1-12.4-2

Art. 1.1PROPERTY TAXES

Ch. 12.4Investment Deduction

This text of Indiana § 6-1.1-12.4-2 (Applicability of deduction entitlement; calculation of deduction amount; filing requirements; adjustments) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-1.1-12.4-2 (2026).

Text

(a)For purposes of this section, an increase in the assessed value of real property is determined in the same manner that an increase in the assessed value of real property is determined for purposes of IC 6-1.1-12.1.

(b)This subsection applies only to a development, redevelopment, or rehabilitation that is first assessed after March 1, 2005, and before March 2, 2007. Except as provided in subsection (h) and sections 4, 5, and 8 of this chapter, an owner of real property that:

(1)develops, redevelops, or rehabilitates the real property; and

(2)creates or retains employment from the development, redevelopment, or rehabilitation; is entitled to a deduction from the assessed value of the real property.

(c)Subject to section 14 of this chapter, the deduction under this section is first av

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(a) For purposes of this section, an increase
in the assessed value of real property is determined in the same manner
that an increase in the assessed value of real property is determined for
purposes of IC 6-1.1-12.1.
(b) This subsection applies only to a development, redevelopment,
or rehabilitation that is first assessed after March 1, 2005, and before
March 2, 2007. Except as provided in subsection (h) and sections 4, 5,
and 8 of this chapter, an owner of real property that:
(1) develops, redevelops, or rehabilitates the real property; and
(2) creates or retains employment from the development,
redevelopment, or rehabilitation;
is entitled to a deduction from the assessed value of the real property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the development, redevelopment, or rehabilitation
occurs and continues for the following two (2) years. The amount of the
deduction that a property owner may receive with respect to real
property located in a county for a particular year equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
development, rehabilitation, or redevelopment; multiplied by
(B) the percentage from the following table:
(d) A property owner that qualifies for the deduction under this
section must file a notice to claim the deduction. The township
assessor, or the county assessor if there is no township assessor for the
township, shall:
(1) inform the county auditor of the real property eligible for the
deduction as contained in the notice filed by the taxpayer under
this subsection; and
(2) inform the county auditor of the deduction amount.
(e) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals of
all deductions approved;
under this section.
(f) The amount of the deduction determined under subsection (c)(2)
is adjusted to reflect the percentage increase or decrease in assessed
valuation that results from:
(1) a reassessment under a county's reassessment plan prepared
under IC 6-1.1-4-4.2; or
(2) an annual adjustment under IC 6-1.1-4-4.5.
(g) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the real property, the amount of the
deduction under this section is adjusted to reflect the percentage
decrease that results from the appeal.
(h) The deduction under this section does not apply to a facility
listed in IC 6-1.1-12.1-3(e).

Legislative History

As added by P.L.193-2005, SEC.8. Amended by P.L.219-2007, SEC.34; P.L.234-2007, SEC.38; P.L.3-2008, SEC.38; P.L.146-2008, SEC.130; P.L.112-2012, SEC.29; P.L.148-2015, SEC.8; P.L.86-2018, SEC.46.