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Indiana Code — Title 6 (Taxation)

IC 6-1.1-46.2-7

Entitlement to deduction; eligible vacant building used for

Official textiga.in.govlast amended

commercial or industrial purposes
Sec. 7. Except as otherwise provided in this chapter, if an application is approved by resolution of the district board and by resolution of the fiscal body of the municipality under section 6 of this chapter, the owner of the eligible vacant building is entitled to a deduction from the assessed value of the building if the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes.
The property owner is entitled to the deduction:

# (1)

for the first year in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes;
and

# (2)

for subsequent years determined in the abatement schedule under section 8 of this chapter in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes.
As added by P.L.238-2017, SEC.18.

Amendment history

As added by P.L.238-2017, SEC.18.

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Nearby sections (25 sections)
  1. 6-1.1-46-3 · Change of deduction percentage
  2. 6-1.1-46-4 · Termination of eligible transfer period
  3. 6-1.1-46-5 · Deduction
  4. 6-1.1-46-6 · Annual reports to county auditor
  5. 6-1.1-46-7 · List of properties eligible for the deduction
  6. 6-1.1-46-8 · Administration of the deduction
  7. 6-1.1-46.2-1 · "District"
  8. 6-1.1-46.2-2 · "District board"
  9. 6-1.1-46.2-3 · "Eligible vacant building"
  10. 6-1.1-46.2-4 · Application for deduction; district board; statement of
  11. 6-1.1-46.2-5 · Form; application and statement of benefits; public…
  12. 6-1.1-46.2-6 · District board review of application; resolution to…
  13. 6-1.1-46.2-7 · Entitlement to deduction; eligible vacant building used…
  14. 6-1.1-46.2-8 · Abatement schedule; duration
  15. 6-1.1-46.2-9 · Amount of deduction
  16. 6-1.1-46.2-10 · Process to claim deduction; compliance information
  17. 6-1.1-46.2-11 · Failure to comply with statement of benefits; hearing;
  18. 6-1.1-46.2-12 · Fee for filing an application; standards for granting a
  19. 6-1.1-47-1 · Definitions
  20. 6-1.1-47-2 · Adoption of ordinance
  21. 6-1.1-47-3 · Change of allocation percentage
  22. 6-1.1-47-4 · Rescission of ordinance
  23. 6-1.1-47-5 · Effective dates of ordinances
  24. 6-1.1-47-6 · Annual reports to county auditor
  25. 6-1.1-47-7 · Allocation of property taxes
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