Change of ownership

Official textiga.in.govlast amended 2005

Sec. 12. If ownership of the real property or new personal property changes, the deduction under this chapter continues to apply to the real property or personal property, and the amount of deduction is the product of:

# (1)

the percentage under section 2(c)(2)(B) or 3(c)(2)(B) of this chapter that would have applied if the ownership of the property had not changed; multiplied by

# (2)

the assessed value of the real property or personal property for the year the new owner qualifies for the deduction.
As added by P.L.193-2005, SEC.8.

Amendment history

As added by P.L.193-2005, SEC.8.

Source: view the official text

Nearby sections (25 sections)

6-1.1-12.1-18 · Enhanced abatement for certain business personal…
6-1.1-12.4-1 · "Official"
6-1.1-12.4-2 · Applicability of deduction entitlement; calculation of…
6-1.1-12.4-3 · Eligibility; deduction amount; period of deduction;…
6-1.1-12.4-4 · Ineligibility of real and personal property located in…
6-1.1-12.4-5 · Additional deductions for property prohibited
6-1.1-12.4-6 · Official review of job creation and job retention…
6-1.1-12.4-7 · Notice of hearing requirements
6-1.1-12.4-8 · Hearing requirements; termination of deduction
6-1.1-12.4-9 · Notice of termination
6-1.1-12.4-10 · Appeal of termination
6-1.1-12.4-11 · Taxes not due while appeal pending
6-1.1-12.4-12 · Change of ownership
6-1.1-12.4-13 · Voidance of rules; investment property tax deduction
6-1.1-12.4-14 · Correction of error in deduction amount
6-1.1-12.5-1 · "Eligible infrastructure"
6-1.1-12.5-2 · "Natural gas utility"
6-1.1-12.5-3 · "Person"
6-1.1-12.5-4 · Ordinance designating infrastructure development zone
6-1.1-12.5-5 · Exemption from property taxation
6-1.1-12.6-0.5 · "Affiliated group"
6-1.1-12.6-1 · "Model residence"
6-1.1-12.6-2 · Applicability; amount of deduction; termination of…
6-1.1-12.6-2.1 · Expired
6-1.1-12.6-3 · Statement to claim deduction and information required;…

Full table of contents →