Indiana Code — Title 6 (Taxation)
IC 6-1.1-12-39
Person not qualified for exemption purchasing exempt
property under contract for sale; entitlement to deduction
Sec. 39. (a) A person who is:
# (1)
purchasing property under a contract that does not require the buyer to pay property taxes on the property; and
# (2)
required to pay property taxes under IC 6-1.1-10-41;
is eligible for a deduction granted by this chapter to the same extent as a person who is buying property under a contract that provides the contract buyer is to pay property taxes on the property.
(b) To obtain the deduction, with the application the applicant must provide:
(1) the same information concerning the contract that is required for contracts that require the buyer to pay property taxes; and
(2) information that indicates that IC 6-1.1-10-41 applies to the property.
As added by P.L.31-1994, SEC.2.
Amendment history
As added by P.L.31-1994, SEC.2.
Source: view the official text
Nearby sections (25 sections)
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- 6-1.1-12-34.5 · Repealed
- 6-1.1-12-35 · Repealed
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- 6-1.1-12-40 · Deductions for real property located in enterprise zones
- 6-1.1-12-40.5 · Limits on deductions for mobile or manufactured homes
- 6-1.1-12-41 · Repealed
- 6-1.1-12-42 · Statewide property tax deduction for inventory
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- 6-1.1-12-45 · Automatic one year carryover of deductions; limitations;
- 6-1.1-12-46 · Eligibility of transferred property for certain deductions
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- 6-1.1-12.1-1 · Definitions
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