6-1.1-46-7. List of Properties Eligible for the Deduction
Sec. 7. (a) This section applies if an ordinance adopted under section 2 of this chapter is in effect in a county. (b) Each year in a county’s deduction allowance period, for each report received from a land bank under section 6 of this chapter, the county auditor shall prepare a list of those properties […]
6-1.1-46-8. Administration of the Deduction
Sec. 8. A taxpayer who is eligible for the deduction provided by this chapter is not required to take any action in order to receive the deduction. A county auditor shall apply the appropriate deduction to the assessed values of the eligible properties based on the information received from the land banks in the county […]
6-1.1-46-2. Adoption of Ordinance
Sec. 2. (a) A county fiscal body of a county in which a land bank is established may adopt an ordinance to have this chapter apply in the county. (b) An ordinance adopted under this section must specify the percentage of assessed valuation to use in computing the deduction provided by this chapter. The percentage […]
6-1.1-46-3. Change of Deduction Percentage
Sec. 3. If an ordinance adopted under section 2 of this chapter is in effect in a county, subject to the requirements of section 2 of this chapter, the county fiscal body may adopt an ordinance that changes the percentage of assessed valuation to use in computing the deduction provided by this chapter. As added […]
6-1.1-46-4. Termination of Eligible Transfer Period
Sec. 4. (a) If an ordinance adopted under section 2 of this chapter is in effect in a county, the county fiscal body may adopt an ordinance specifying the date on which the eligible transfer period is to terminate. (b) If a county fiscal body has adopted an ordinance under subsection (a), the ordinances adopted […]
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) […]
6-1.1-46-6. Annual Reports to County Auditor
Sec. 6. (a) If an ordinance adopted under section 2 of this chapter is in effect in a county, each land bank that is located in the county shall transmit a report to the county auditor before February 1 of each assessment year in the deduction allowance period in the manner prescribed by the county […]
6-1.1-46-1. Definitions
Sec. 1. The following definitions apply throughout this chapter: (1) “Deduction allowance period” for a county means the period: (A) beginning on January 1 of the year immediately following the year in which the county fiscal body adopts an ordinance under section 2 of this chapter to have this chapter apply in the county; and […]