Indiana § 6-1.1-12.4-3 Eligibility; deduction amount; period of deduction; deduction claim;
limitations

Indiana Statutes

§ 6-1.1-12.4-3 — Eligibility; deduction amount; period of deduction; deduction claim; limitations

Indiana § 6-1.1-12.4-3

Art. 1.1PROPERTY TAXES

Ch. 12.4Investment Deduction

This text of Indiana § 6-1.1-12.4-3 (Eligibility; deduction amount; period of deduction; deduction claim; limitations) 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 § 6-1.1-12.4-3 (2026).

Text

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

(b)This subsection applies only to personal property that the owner purchases after March 1, 2005, and before March 2, 2007. Except as provided in sections 4, 5, and 8 of this chapter, an owner that purchases personal property that:

(1)was never before used by its owner for any purpose in Indiana; and

(2)creates or retains employment; is entitled to a deduction from the assessed value of the personal 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

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(a) For purposes of this section, an increase
in the assessed value of personal property is determined in the same
manner that an increase in the assessed value of new manufacturing
equipment is determined for purposes of IC 6-1.1-12.1.
(b) This subsection applies only to personal property that the owner
purchases after March 1, 2005, and before March 2, 2007. Except as
provided in sections 4, 5, and 8 of this chapter, an owner that purchases
personal property that:
(1) was never before used by its owner for any purpose in Indiana;
and
(2) creates or retains employment;
is entitled to a deduction from the assessed value of the personal
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 purchase of the personal property occurs and
continues for the following two (2) years. The amount of the deduction
that a property owner may receive with respect to personal 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 purchase
of the personal property; multiplied by
(B) the percentage from the following table:
(d) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the personal property, the amount of
the deduction is adjusted to reflect the percentage decrease that results
from the appeal.
(e) A property owner must claim the deduction under this section on
the owner's annual personal property tax return. The township assessor,
or the county assessor if there is no township assessor for the township,
shall:
(1) identify the personal property eligible for the deduction to the
county auditor; and
(2) inform the county auditor of the deduction amount.
(f) 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.
(g) The deduction under this section does not apply to personal
property at 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.154-2006, SEC.37; P.L.169-2006, SEC.7; P.L.1-2007, SEC.41; P.L.219-2007, SEC.35; P.L.234-2007, SEC.39; P.L.3-2008, SEC.39; P.L.146-2008, SEC.131.