Indiana Code — Title 6 (Taxation)
IC 6-1.1-3-29
Depreciable personal property 30% minimum valuation
limitation
Sec. 29.
# (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 personal 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.
As added by P.L.68-2025, SEC.11. Amended by P.L.230-2025, SEC.18.
Amendment history
As added by P.L.68-2025, SEC.11. Amended by P.L.230-2025, SEC.18.
Source: view the official text
Nearby sections (25 sections)
- 6-1.1-3-19 · Information available to county assessor and county…
- 6-1.1-3-20 · Change in valuation; notice
- 6-1.1-3-21 · Preservation of records; inspection
- 6-1.1-3-22 · Personal property tax rules; prohibition against amendment…
- 6-1.1-3-22.5 · Personal property tax; depreciable property; year of
- 6-1.1-3-23 · General assembly findings; election of valuation method for
- 6-1.1-3-23.5 · Election of valuation method for mini-mill equipment
- 6-1.1-3-24 · Valuation; outdoor advertising signs
- 6-1.1-3-25 · Exemption from valuation limitations for property located…
- 6-1.1-3-26 · Online portal for personal property tax returns;…
- 6-1.1-3-27 · Fees
- 6-1.1-3-28 · Personal property online submission portal fund
- 6-1.1-3-29 · Depreciable personal property 30% minimum valuation
- 6-1.1-4-1 · Place of assessment; person liable
- 6-1.1-4-2 · Assessment of property held by fiduciary
- 6-1.1-4-3 · Heirs or devisees; assessment
- 6-1.1-4-4 · Expired
- 6-1.1-4-4.2 · County reassessment plan; approval by department of local
- 6-1.1-4-4.3 · Repealed
- 6-1.1-4-4.4 · Repealed
- 6-1.1-4-4.5 · Annual adjustment of assessed value of real property;…
- 6-1.1-4-4.6 · Department of local government finance setting of annual
- 6-1.1-4-4.7 · Training of assessors and county auditors in sales…
- 6-1.1-4-4.8 · Reassessment of covered projects
- 6-1.1-4-4.9 · Required documentation of changes by assessor; reason that