Indiana Code — Title 6 (Taxation)
IC 6-1.1-46-5
Deduction
Sec. 5. If an ordinance adopted under section 2 of this chapter is in effect in a county, a person to whom a land bank transfers real property in a county during the eligible transfer period is entitled to a deduction from the assessed value of the real property for each of the five (5) consecutive years immediately following the year in which the land bank transfers the real property to the person in an amount equal to:
# (1)
the percentage specified in an ordinance adopted under section 2 or 3 of this chapter, as applicable; multiplied by
# (2)
the assessed value of the property transferred by the land bank to the person.
As added by P.L.110-2017, SEC.1.
Amendment history
As added by P.L.110-2017, SEC.1.
Source: view the official text
Nearby sections (25 sections)
- 6-1.1-45.5-2 · Form and content of petition
- 6-1.1-45.5-3 · County auditor action on petition; correction of defects;
- 6-1.1-45.5-4 · County property tax assessment board of appeals hearing;
- 6-1.1-45.5-5 · County property tax assessment board of appeals
- 6-1.1-45.5-6 · Review and recommendation by fiscal body; notice;
- 6-1.1-45.5-7 · Review and action by department of local government…
- 6-1.1-45.5-8 · Notice of action of department of local government…
- 6-1.1-45.5-9 · Appeal of action of department of local government…
- 6-1.1-46-1 · Definitions
- 6-1.1-46-2 · Adoption of ordinance
- 6-1.1-46-3 · Change of deduction percentage
- 6-1.1-46-4 · Termination of eligible transfer period
- 6-1.1-46-5 · Deduction
- 6-1.1-46-6 · Annual reports to county auditor
- 6-1.1-46-7 · List of properties eligible for the deduction
- 6-1.1-46-8 · Administration of the deduction
- 6-1.1-46.2-1 · "District"
- 6-1.1-46.2-2 · "District board"
- 6-1.1-46.2-3 · "Eligible vacant building"
- 6-1.1-46.2-4 · Application for deduction; district board; statement of
- 6-1.1-46.2-5 · Form; application and statement of benefits; public…
- 6-1.1-46.2-6 · District board review of application; resolution to…
- 6-1.1-46.2-7 · Entitlement to deduction; eligible vacant building used…
- 6-1.1-46.2-8 · Abatement schedule; duration
- 6-1.1-46.2-9 · Amount of deduction