Entitlement to credit

# (1)

the individual's Indiana income for the taxable year is less than eighteen thousand six hundred dollars ($18,600); and

# (2)

the individual pays property taxes in the taxable year on a homestead that:

# (A)

the individual:

(i) owns; or

(ii) is buying under a contract that requires the individual to pay property taxes on the homestead, if the contract or a memorandum of the contract is recorded in the county recorder's office; and

# (B)

is located in a county having a population of more than four hundred thousand (400,000) and less than seven hundred thousand (700,000).

(b) An individual is not entitled to a credit under this chapter for a taxable year for property taxes paid on the individual's homestead if the individual claims the deduction under IC 6-3-1-3.5(a)(13) for the homestead for that same taxable year.

(c) In the case of a married individual filing a separate return, the income amount in subsection (a) shall be fifty percent (50%) of the amount listed in that subsection.
As added by P.L.151-2001, SEC.5. Amended by P.L.6-2012, SEC.53; P.L.13-2013, SEC.22;
P.L.166-2014, SEC.23; P.L.250-2015, SEC.29; P.L.146-2020, SEC.29; P.L.11-2023, SEC.26.