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Indiana Code — Title 6 (Taxation)

IC 6-1.1-12.6-1

"Model residence"

Official textiga.in.govlast amended

Sec. 1. (a) As used in this chapter, "model residence" means real property that consists of a single family residence, single family townhouse, or single family condominium unit that:

# (1)

has never been occupied as a principal residence; and

# (2)

is used for display or demonstration to prospective buyers or lessees for purposes of potential acquisition or lease of a similar type of residence, townhouse, or condominium unit on:

# (A)

the same property; or

# (B)

other property.

(b) The term does not include any of the land on which the residence, townhouse, or condominium unit is located.

(c) Real property described in subsection (a) that is used by the owner as the owner's regular office space may not be considered a model residence for purposes of this chapter.
However, this subsection does not prohibit the use of a garage or other space in the real property:

(1) to store or display material used to promote the real property or other similar properties; or

(2) as a space for meetings with prospective buyers or lessees.
As added by P.L.70-2008, SEC.1.

Amendment history

As added by P.L.70-2008, SEC.1.

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Nearby sections (25 sections)
  1. 6-1.1-12.4-9 · Notice of termination
  2. 6-1.1-12.4-10 · Appeal of termination
  3. 6-1.1-12.4-11 · Taxes not due while appeal pending
  4. 6-1.1-12.4-12 · Change of ownership
  5. 6-1.1-12.4-13 · Voidance of rules; investment property tax deduction
  6. 6-1.1-12.4-14 · Correction of error in deduction amount
  7. 6-1.1-12.5-1 · "Eligible infrastructure"
  8. 6-1.1-12.5-2 · "Natural gas utility"
  9. 6-1.1-12.5-3 · "Person"
  10. 6-1.1-12.5-4 · Ordinance designating infrastructure development zone
  11. 6-1.1-12.5-5 · Exemption from property taxation
  12. 6-1.1-12.6-0.5 · "Affiliated group"
  13. 6-1.1-12.6-1 · "Model residence"
  14. 6-1.1-12.6-2 · Applicability; amount of deduction; termination of…
  15. 6-1.1-12.6-2.1 · Expired
  16. 6-1.1-12.6-3 · Statement to claim deduction and information required;…
  17. 6-1.1-12.6-4 · Limitation of deduction to three residences; procedure…
  18. 6-1.1-12.6-5 · Deduction inapplicable in allocation area
  19. 6-1.1-12.6-6 · Prohibition against application of the deduction and a
  20. 6-1.1-12.6-7 · Application of the deduction on change of ownership
  21. 6-1.1-12.6-8 · Affiliated group limited to three deductions
  22. 6-1.1-12.6-9 · Voidance of rules; model residence property tax deduction
  23. 6-1.1-12.7-1 · "Certified technology park"
  24. 6-1.1-12.7-2 · "High technology activity"
  25. 6-1.1-12.7-3 · "Qualified personal property"
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