Indiana § 6-1.1-8-45 Depreciable personal property 30% minimum valuation limitation

Indiana Statutes

§ 6-1.1-8-45 — Depreciable personal property 30% minimum valuation limitation

Indiana § 6-1.1-8-45

Art. 1.1PROPERTY TAXES

Ch. 8Taxation of Public Utility Companies

This text of Indiana § 6-1.1-8-45 (Depreciable personal property 30% minimum valuation limitation) 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 § 6-1.1-8-45 (2026).

Text

(a)This subsection applies only to a taxpayer's assessable depreciable personal property that is placed in service on or before January 1, 2025. Except as provided in subsections

(b)and (c), for each assessment date, the total valuation of a taxpayer's assessable depreciable personal property in a single taxing district may not be less than thirty percent (30%) of the adjusted cost of all the taxpayer's assessable depreciable property in the taxing district.

(b)The limitation set forth in subsection (a) is to be applied before any special adjustment for abnormal obsolescence. The limitation does not apply to equipment not placed in service, special tooling, and permanently retired depreciable personal property.

(c)Depreciable personal property that is placed in service after January 1,

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(a) This subsection applies only to a
taxpayer's assessable depreciable personal property that is placed in
service on or before January 1, 2025. Except as provided in subsections
(b) and (c), for each assessment date, the total valuation of a taxpayer's
assessable depreciable personal property in a single taxing district may
not be less than thirty percent (30%) of the adjusted cost of all the
taxpayer's assessable depreciable property in the taxing district.
(b) The limitation set forth in subsection (a) is to be applied before
any special adjustment for abnormal obsolescence. The limitation does
not apply to equipment not placed in service, special tooling, and
permanently retired depreciable personal property.
(c) Depreciable personal property that is placed in service after
January 1, 2025, is not subject to the minimum valuation limitation
under this section. However, if depreciable personal property is placed
in service after January 1, 2025, and is located in an existing tax
increment allocation area for which the base assessed value is
determined before January 1, 2025, the depreciable personal property
remains subject to the minimum valuation limitations under this
section.