IC 6-1.1-12.4-1 "Official"
Sec. 1. For purposes of this chapter, "official" means:
(1) a county auditor;
(2) a county assessor; or
(3) a township assessor (if any). As added by P.L.193-2005, SEC.8. Amended by P.L.146-2008,
SEC.129.
IC 6-1.1-12.4-2 Applicability of deduction entitlement; calculation of deduction
amount; filing requirements; adjustments
Sec. 2. (a) For purposes of this section, an increase in the assessed
value of real property is determined in the same manner that an
increase in the assessed value of real property is determined for
purposes of IC 6-1.1-12.1.
(b) This subsection applies only to a development, redevelopment,
or rehabilitation that is first assessed after March 1, 2005, and before
March 2, 2007. Except as provided in subsection (h) and sections 4,
5, and 8 of this chapter, an owner of real property that:
(1) develops, redevelops, or rehabilitates the real property; and
(2) creates or retains employment from the development,
redevelopment, or rehabilitation;
is entitled to a deduction from the assessed value of the real property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the development, redevelopment, or
rehabilitation occurs and continues for the following two (2) years.
The amount of the deduction that a property owner may receive with
respect to real property located in a county for a particular year
equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
development, rehabilitation, or redevelopment; multiplied by
(B) the percentage from the following table:
YEAR OF DEDUCTION
PERCENTAGE
1st 75%
2nd 50%
3rd 25%
(d) A property owner that qualifies for the deduction under this
section must file a notice to claim the deduction in the manner
prescribed by the department of local government finance under rules
adopted by the department of local government finance under
IC 4-22-2 to implement this chapter. The township assessor, or the
county assessor if there is no township assessor for the township,
shall:
(1) inform the county auditor of the real property eligible for the
deduction as contained in the notice filed by the taxpayer under
this subsection; and
(2) inform the county auditor of the deduction amount.
(e) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals
of all deductions approved;
under this section.
(f) The amount of the deduction determined under subsection
(c)(2) is adjusted to reflect the percentage increase or decrease in
assessed valuation that results from:
(1) a general reassessment of real property under IC 6-1.1-4-4;
or
(2) an annual adjustment under IC 6-1.1-4-4.5.
(g) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the real property, the amount of
the deduction under this section is adjusted to reflect the percentage
decrease that results from the appeal.
(h) The deduction under this section does not apply to a facility
listed in IC 6-1.1-12.1-3(e). As added by P.L.193-2005, SEC.8. Amended by P.L.219-2007,
SEC.34; P.L.234-2007, SEC.38; P.L.3-2008, SEC.38; P.L.146-2008,
SEC.130.
IC 6-1.1-12.4-3 Eligibility; deduction amount; period of deduction; deduction
claim; limitations
Sec. 3. (a) For purposes of this section, an increase in the assessed
value of personal property is determined in the same manner that an
increase in the assessed value of new manufacturing equipment is
determined for purposes of IC 6-1.1-12.1.
(b) This subsection applies only to personal property that the
owner purchases after March 1, 2005, and before March 2, 2007.
Except as provided in sections 4, 5, and 8 of this chapter, an owner
that purchases personal property that:
(1) was never before used by its owner for any purpose in
Indiana; and
(2) creates or retains employment;
is entitled to a deduction from the assessed value of the personal
property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the purchase of the personal property occurs and
continues for the following two (2) years. The amount of the
deduction that a property owner may receive with respect to personal
property located in a county for a particular year equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
purchase of the personal property; multiplied by
(B) the percentage from the following table:
YEAR OF DEDUCTION
PERCENTAGE
1st 75%
2nd 50%
3rd 25%
(d) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the personal property, the amount
of the deduction is adjusted to reflect the percentage decrease that
results from the appeal.
(e) A property owner must claim the deduction under this section
on the owner's annual personal property tax return. The township
assessor, or the county assessor if there is no township assessor for
the township, shall:
(1) identify the personal property eligible for the deduction to
the county auditor; and
(2) inform the county auditor of the deduction amount.
(f) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals
of all deductions approved;
under this section.
(g) The deduction under this section does not apply to personal
property at a facility listed in IC 6-1.1-12.1-3(e). As added by P.L.193-2005, SEC.8. Amended by P.L.154-2006,
SEC.37; P.L.169-2006, SEC.7; P.L.1-2007, SEC.41; P.L.219-2007,
SEC.35; P.L.234-2007, SEC.39; P.L.3-2008, SEC.39; P.L.146-2008,
SEC.131.
IC 6-1.1-12.4-4 Ineligibility of real and personal property located in allocation area
Sec. 4. A property owner may not receive a deduction under this
chapter with respect to real property or personal property located in
an allocation area (as defined in IC 6-1.1-21.2-3). As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-5 Additional deductions for property prohibited
Sec. 5. A property owner that qualifies for a deduction for a year
under this chapter and another statute with respect to the same:
(1) real property development, redevelopment, or rehabilitation;
or
(2) personal property purchase;
may not receive a deduction under both statutes for the development,
redevelopment, rehabilitation, or purchase for that year. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-6 Official review of job creation and job retention criteria; notice of
hearing
Sec. 6. An official may:
(1) review the creation or retention of employment from:
(A) the development, redevelopment, or rehabilitation of real
property; or
(B) the purchase of personal property;
that qualifies a property owner for a deduction under this
chapter;
(2) determine whether the creation or retention of employment
described in subdivision (1) has occurred; and
(3) if the official determines under subdivision (2) that:
(A) the creation or retention of employment described in
subdivision (1) has not occurred; and
(B) the failure to create or retain employment was not caused
by factors beyond the control of the property owner (such as
declines in demand for the property owner's products or
services);
mail a written notice to the property owner of a hearing on the
termination of the deduction under this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-7 Notice of hearing requirements
Sec. 7. The written notice under section 6(3) of this chapter must
include the following:
(1) An explanation of the reasons for the determination that the
creation or retention of employment described in section 6(1)
of this chapter has not occurred.
(2) The date, time, and place of a hearing to be conducted:
(A) by the official; and
(B) not more than thirty (30) days after the date of the notice
under section 6(3) of this chapter;
to further consider the property owner's creation or retention of
employment as described in section 6(1) of this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-8 Hearing requirements; termination of deduction
Sec. 8. On the date specified in the notice described in section
6(3) of this chapter, the official shall conduct a hearing for the
purpose of further considering the property owner's creation or
retention of employment as described in section 6(1) of this chapter.
Based on the information presented at the hearing by the property
owner and other interested parties, the official shall determine
whether the property owner has made reasonable efforts to create or
retain employment as described in section 6(1) of this chapter and
whether any failure to create or retain employment was caused by
factors beyond the control of the property owner. If the official
determines that the property owner has not made reasonable efforts
to create or retain employment, the official shall determine that the
property owner's deduction under this chapter is terminated. If the
official terminates the deduction, the deduction does not apply to:
(1) the next installment of property taxes owed by the property
owner; or
(2) any subsequent installment of property taxes. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-9 Notice of termination
Sec. 9. If an official terminates a deduction under section 8 of this
chapter:
(1) the official shall immediately mail a certified copy of the
determination to:
(A) the property owner; and
(B) if the determination is made by the county assessor or
the township assessor (if any), the county auditor;
(2) the county auditor shall:
(A) remove the deduction from the tax duplicate; and
(B) notify the county treasurer of the termination of the
deduction; and
(3) if the official's determination to terminate the deduction
occurs after the county treasurer has mailed the statement
required by IC 6-1.1-22-8.1, the county treasurer shall
immediately mail the property owner a revised statement that
reflects the termination of the deduction. As added by P.L.193-2005, SEC.8. Amended by P.L.3-2008, SEC.40;
P.L.146-2008, SEC.132.
IC 6-1.1-12.4-10 Appeal of termination
Sec. 10. A property owner whose deduction is terminated under
section 8 of this chapter may appeal the official's decision by filing
a complaint in the office of the clerk of the circuit or superior court
together with a bond conditioned to pay the costs of the appeal if the
appeal is determined against the property owner. The court shall:
(1) hear an appeal under this section promptly without a jury;
and
(2) determine the appeal not later than thirty (30) days after the
date of the filing of the appeal.
The judgment of the court is final and conclusive unless an appeal is
taken as in other civil actions. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-11 Taxes not due while appeal pending
Sec. 11. If an appeal under section 10 of this chapter is pending,
the taxes resulting from the termination of the deduction are not due
until after the appeal is finally adjudicated and the termination of the
deduction is finally determined. As added by P.L.193-2005, SEC.8. IC 6-1.1-12.4-12 Change of ownership
Sec. 12. If ownership of the real property or new personal
property changes, the deduction under this chapter continues to apply
to the real property or personal property, and the amount of
deduction is the product of:
(1) the percentage under section 2(c)(2)(B) or 3(c)(2)(B) of this
chapter that would have applied if the ownership of the property
had not changed; multiplied by
(2) the assessed value of the real property or personal property
for the year the new owner qualifies for the deduction. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-13 Department of local government finance rulemaking
Sec. 13. The department of local government finance shall adopt
rules under IC 4-22-2 to implement this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-14 Correction of error in deduction amount
Sec. 14. If:
(1) as the result of an error the county auditor applies a
deduction under this chapter for a particular assessment date in
an amount that is less than the amount to which the taxpayer is
entitled under this chapter; and
(2) the taxpayer is entitled to a correction of the error under this
article;
the county auditor shall apply the correction of the error in the
manner that corrections are applied under IC 6-1.1-12.1-15. As added by P.L.219-2007, SEC.36.
IC 6-1.1-12.4-1 "Official"
Sec. 1. For purposes of this chapter, "official" means:
(1) a county auditor;
(2) a county assessor; or
(3) a township assessor (if any). As added by P.L.193-2005, SEC.8. Amended by P.L.146-2008,
SEC.129.
IC 6-1.1-12.4-2 Applicability of deduction entitlement; calculation of deduction
amount; filing requirements; adjustments
Sec. 2. (a) For purposes of this section, an increase in the assessed
value of real property is determined in the same manner that an
increase in the assessed value of real property is determined for
purposes of IC 6-1.1-12.1.
(b) This subsection applies only to a development, redevelopment,
or rehabilitation that is first assessed after March 1, 2005, and before
March 2, 2007. Except as provided in subsection (h) and sections 4,
5, and 8 of this chapter, an owner of real property that:
(1) develops, redevelops, or rehabilitates the real property; and
(2) creates or retains employment from the development,
redevelopment, or rehabilitation;
is entitled to a deduction from the assessed value of the real property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the development, redevelopment, or
rehabilitation occurs and continues for the following two (2) years.
The amount of the deduction that a property owner may receive with
respect to real property located in a county for a particular year
equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
development, rehabilitation, or redevelopment; multiplied by
(B) the percentage from the following table:
YEAR OF DEDUCTION
PERCENTAGE
1st 75%
2nd 50%
3rd 25%
(d) A property owner that qualifies for the deduction under this
section must file a notice to claim the deduction in the manner
prescribed by the department of local government finance under rules
adopted by the department of local government finance under
IC 4-22-2 to implement this chapter. The township assessor, or the
county assessor if there is no township assessor for the township,
shall:
(1) inform the county auditor of the real property eligible for the
deduction as contained in the notice filed by the taxpayer under
this subsection; and
(2) inform the county auditor of the deduction amount.
(e) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals
of all deductions approved;
under this section.
(f) The amount of the deduction determined under subsection
(c)(2) is adjusted to reflect the percentage increase or decrease in
assessed valuation that results from:
(1) a general reassessment of real property under IC 6-1.1-4-4;
or
(2) an annual adjustment under IC 6-1.1-4-4.5.
(g) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the real property, the amount of
the deduction under this section is adjusted to reflect the percentage
decrease that results from the appeal.
(h) The deduction under this section does not apply to a facility
listed in IC 6-1.1-12.1-3(e). As added by P.L.193-2005, SEC.8. Amended by P.L.219-2007,
SEC.34; P.L.234-2007, SEC.38; P.L.3-2008, SEC.38; P.L.146-2008,
SEC.130.
IC 6-1.1-12.4-3 Eligibility; deduction amount; period of deduction; deduction
claim; limitations
Sec. 3. (a) For purposes of this section, an increase in the assessed
value of personal property is determined in the same manner that an
increase in the assessed value of new manufacturing equipment is
determined for purposes of IC 6-1.1-12.1.
(b) This subsection applies only to personal property that the
owner purchases after March 1, 2005, and before March 2, 2007.
Except as provided in sections 4, 5, and 8 of this chapter, an owner
that purchases personal property that:
(1) was never before used by its owner for any purpose in
Indiana; and
(2) creates or retains employment;
is entitled to a deduction from the assessed value of the personal
property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the purchase of the personal property occurs and
continues for the following two (2) years. The amount of the
deduction that a property owner may receive with respect to personal
property located in a county for a particular year equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
purchase of the personal property; multiplied by
(B) the percentage from the following table:
YEAR OF DEDUCTION
PERCENTAGE
1st 75%
2nd 50%
3rd 25%
(d) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the personal property, the amount
of the deduction is adjusted to reflect the percentage decrease that
results from the appeal.
(e) A property owner must claim the deduction under this section
on the owner's annual personal property tax return. The township
assessor, or the county assessor if there is no township assessor for
the township, shall:
(1) identify the personal property eligible for the deduction to
the county auditor; and
(2) inform the county auditor of the deduction amount.
(f) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals
of all deductions approved;
under this section.
(g) The deduction under this section does not apply to personal
property at a facility listed in IC 6-1.1-12.1-3(e). As added by P.L.193-2005, SEC.8. Amended by P.L.154-2006,
SEC.37; P.L.169-2006, SEC.7; P.L.1-2007, SEC.41; P.L.219-2007,
SEC.35; P.L.234-2007, SEC.39; P.L.3-2008, SEC.39; P.L.146-2008,
SEC.131.
IC 6-1.1-12.4-4 Ineligibility of real and personal property located in allocation area
Sec. 4. A property owner may not receive a deduction under this
chapter with respect to real property or personal property located in
an allocation area (as defined in IC 6-1.1-21.2-3). As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-5 Additional deductions for property prohibited
Sec. 5. A property owner that qualifies for a deduction for a year
under this chapter and another statute with respect to the same:
(1) real property development, redevelopment, or rehabilitation;
or
(2) personal property purchase;
may not receive a deduction under both statutes for the development,
redevelopment, rehabilitation, or purchase for that year. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-6 Official review of job creation and job retention criteria; notice of
hearing
Sec. 6. An official may:
(1) review the creation or retention of employment from:
(A) the development, redevelopment, or rehabilitation of real
property; or
(B) the purchase of personal property;
that qualifies a property owner for a deduction under this
chapter;
(2) determine whether the creation or retention of employment
described in subdivision (1) has occurred; and
(3) if the official determines under subdivision (2) that:
(A) the creation or retention of employment described in
subdivision (1) has not occurred; and
(B) the failure to create or retain employment was not caused
by factors beyond the control of the property owner (such as
declines in demand for the property owner's products or
services);
mail a written notice to the property owner of a hearing on the
termination of the deduction under this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-7 Notice of hearing requirements
Sec. 7. The written notice under section 6(3) of this chapter must
include the following:
(1) An explanation of the reasons for the determination that the
creation or retention of employment described in section 6(1)
of this chapter has not occurred.
(2) The date, time, and place of a hearing to be conducted:
(A) by the official; and
(B) not more than thirty (30) days after the date of the notice
under section 6(3) of this chapter;
to further consider the property owner's creation or retention of
employment as described in section 6(1) of this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-8 Hearing requirements; termination of deduction
Sec. 8. On the date specified in the notice described in section
6(3) of this chapter, the official shall conduct a hearing for the
purpose of further considering the property owner's creation or
retention of employment as described in section 6(1) of this chapter.
Based on the information presented at the hearing by the property
owner and other interested parties, the official shall determine
whether the property owner has made reasonable efforts to create or
retain employment as described in section 6(1) of this chapter and
whether any failure to create or retain employment was caused by
factors beyond the control of the property owner. If the official
determines that the property owner has not made reasonable efforts
to create or retain employment, the official shall determine that the
property owner's deduction under this chapter is terminated. If the
official terminates the deduction, the deduction does not apply to:
(1) the next installment of property taxes owed by the property
owner; or
(2) any subsequent installment of property taxes. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-9 Notice of termination
Sec. 9. If an official terminates a deduction under section 8 of this
chapter:
(1) the official shall immediately mail a certified copy of the
determination to:
(A) the property owner; and
(B) if the determination is made by the county assessor or
the township assessor (if any), the county auditor;
(2) the county auditor shall:
(A) remove the deduction from the tax duplicate; and
(B) notify the county treasurer of the termination of the
deduction; and
(3) if the official's determination to terminate the deduction
occurs after the county treasurer has mailed the statement
required by IC 6-1.1-22-8.1, the county treasurer shall
immediately mail the property owner a revised statement that
reflects the termination of the deduction. As added by P.L.193-2005, SEC.8. Amended by P.L.3-2008, SEC.40;
P.L.146-2008, SEC.132.
IC 6-1.1-12.4-10 Appeal of termination
Sec. 10. A property owner whose deduction is terminated under
section 8 of this chapter may appeal the official's decision by filing
a complaint in the office of the clerk of the circuit or superior court
together with a bond conditioned to pay the costs of the appeal if the
appeal is determined against the property owner. The court shall:
(1) hear an appeal under this section promptly without a jury;
and
(2) determine the appeal not later than thirty (30) days after the
date of the filing of the appeal.
The judgment of the court is final and conclusive unless an appeal is
taken as in other civil actions. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-11 Taxes not due while appeal pending
Sec. 11. If an appeal under section 10 of this chapter is pending,
the taxes resulting from the termination of the deduction are not due
until after the appeal is finally adjudicated and the termination of the
deduction is finally determined. As added by P.L.193-2005, SEC.8. IC 6-1.1-12.4-12 Change of ownership
Sec. 12. If ownership of the real property or new personal
property changes, the deduction under this chapter continues to apply
to the real property or personal property, and the amount of
deduction is the product of:
(1) the percentage under section 2(c)(2)(B) or 3(c)(2)(B) of this
chapter that would have applied if the ownership of the property
had not changed; multiplied by
(2) the assessed value of the real property or personal property
for the year the new owner qualifies for the deduction. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-13 Department of local government finance rulemaking
Sec. 13. The department of local government finance shall adopt
rules under IC 4-22-2 to implement this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-14 Correction of error in deduction amount
Sec. 14. If:
(1) as the result of an error the county auditor applies a
deduction under this chapter for a particular assessment date in
an amount that is less than the amount to which the taxpayer is
entitled under this chapter; and
(2) the taxpayer is entitled to a correction of the error under this
article;
the county auditor shall apply the correction of the error in the
manner that corrections are applied under IC 6-1.1-12.1-15. As added by P.L.219-2007, SEC.36.
IC 6-1.1-12.4-1 "Official"
Sec. 1. For purposes of this chapter, "official" means:
(1) a county auditor;
(2) a county assessor; or
(3) a township assessor (if any). As added by P.L.193-2005, SEC.8. Amended by P.L.146-2008,
SEC.129.
IC 6-1.1-12.4-2 Applicability of deduction entitlement; calculation of deduction
amount; filing requirements; adjustments
Sec. 2. (a) For purposes of this section, an increase in the assessed
value of real property is determined in the same manner that an
increase in the assessed value of real property is determined for
purposes of IC 6-1.1-12.1.
(b) This subsection applies only to a development, redevelopment,
or rehabilitation that is first assessed after March 1, 2005, and before
March 2, 2007. Except as provided in subsection (h) and sections 4,
5, and 8 of this chapter, an owner of real property that:
(1) develops, redevelops, or rehabilitates the real property; and
(2) creates or retains employment from the development,
redevelopment, or rehabilitation;
is entitled to a deduction from the assessed value of the real property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the development, redevelopment, or
rehabilitation occurs and continues for the following two (2) years.
The amount of the deduction that a property owner may receive with
respect to real property located in a county for a particular year
equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
development, rehabilitation, or redevelopment; multiplied by
(B) the percentage from the following table:
YEAR OF DEDUCTION
PERCENTAGE
1st 75%
2nd 50%
3rd 25%
(d) A property owner that qualifies for the deduction under this
section must file a notice to claim the deduction in the manner
prescribed by the department of local government finance under rules
adopted by the department of local government finance under
IC 4-22-2 to implement this chapter. The township assessor, or the
county assessor if there is no township assessor for the township,
shall:
(1) inform the county auditor of the real property eligible for the
deduction as contained in the notice filed by the taxpayer under
this subsection; and
(2) inform the county auditor of the deduction amount.
(e) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals
of all deductions approved;
under this section.
(f) The amount of the deduction determined under subsection
(c)(2) is adjusted to reflect the percentage increase or decrease in
assessed valuation that results from:
(1) a general reassessment of real property under IC 6-1.1-4-4;
or
(2) an annual adjustment under IC 6-1.1-4-4.5.
(g) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the real property, the amount of
the deduction under this section is adjusted to reflect the percentage
decrease that results from the appeal.
(h) The deduction under this section does not apply to a facility
listed in IC 6-1.1-12.1-3(e). As added by P.L.193-2005, SEC.8. Amended by P.L.219-2007,
SEC.34; P.L.234-2007, SEC.38; P.L.3-2008, SEC.38; P.L.146-2008,
SEC.130.
IC 6-1.1-12.4-3 Eligibility; deduction amount; period of deduction; deduction
claim; limitations
Sec. 3. (a) For purposes of this section, an increase in the assessed
value of personal property is determined in the same manner that an
increase in the assessed value of new manufacturing equipment is
determined for purposes of IC 6-1.1-12.1.
(b) This subsection applies only to personal property that the
owner purchases after March 1, 2005, and before March 2, 2007.
Except as provided in sections 4, 5, and 8 of this chapter, an owner
that purchases personal property that:
(1) was never before used by its owner for any purpose in
Indiana; and
(2) creates or retains employment;
is entitled to a deduction from the assessed value of the personal
property.
(c) Subject to section 14 of this chapter, the deduction under this
section is first available in the year in which the increase in assessed
value resulting from the purchase of the personal property occurs and
continues for the following two (2) years. The amount of the
deduction that a property owner may receive with respect to personal
property located in a county for a particular year equals the lesser of:
(1) two million dollars ($2,000,000); or
(2) the product of:
(A) the increase in assessed value resulting from the
purchase of the personal property; multiplied by
(B) the percentage from the following table:
YEAR OF DEDUCTION
PERCENTAGE
1st 75%
2nd 50%
3rd 25%
(d) If an appeal of an assessment is approved that results in a
reduction of the assessed value of the personal property, the amount
of the deduction is adjusted to reflect the percentage decrease that
results from the appeal.
(e) A property owner must claim the deduction under this section
on the owner's annual personal property tax return. The township
assessor, or the county assessor if there is no township assessor for
the township, shall:
(1) identify the personal property eligible for the deduction to
the county auditor; and
(2) inform the county auditor of the deduction amount.
(f) The county auditor shall:
(1) make the deductions; and
(2) notify the county property tax assessment board of appeals
of all deductions approved;
under this section.
(g) The deduction under this section does not apply to personal
property at a facility listed in IC 6-1.1-12.1-3(e). As added by P.L.193-2005, SEC.8. Amended by P.L.154-2006,
SEC.37; P.L.169-2006, SEC.7; P.L.1-2007, SEC.41; P.L.219-2007,
SEC.35; P.L.234-2007, SEC.39; P.L.3-2008, SEC.39; P.L.146-2008,
SEC.131.
IC 6-1.1-12.4-4 Ineligibility of real and personal property located in allocation area
Sec. 4. A property owner may not receive a deduction under this
chapter with respect to real property or personal property located in
an allocation area (as defined in IC 6-1.1-21.2-3). As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-5 Additional deductions for property prohibited
Sec. 5. A property owner that qualifies for a deduction for a year
under this chapter and another statute with respect to the same:
(1) real property development, redevelopment, or rehabilitation;
or
(2) personal property purchase;
may not receive a deduction under both statutes for the development,
redevelopment, rehabilitation, or purchase for that year. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-6 Official review of job creation and job retention criteria; notice of
hearing
Sec. 6. An official may:
(1) review the creation or retention of employment from:
(A) the development, redevelopment, or rehabilitation of real
property; or
(B) the purchase of personal property;
that qualifies a property owner for a deduction under this
chapter;
(2) determine whether the creation or retention of employment
described in subdivision (1) has occurred; and
(3) if the official determines under subdivision (2) that:
(A) the creation or retention of employment described in
subdivision (1) has not occurred; and
(B) the failure to create or retain employment was not caused
by factors beyond the control of the property owner (such as
declines in demand for the property owner's products or
services);
mail a written notice to the property owner of a hearing on the
termination of the deduction under this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-7 Notice of hearing requirements
Sec. 7. The written notice under section 6(3) of this chapter must
include the following:
(1) An explanation of the reasons for the determination that the
creation or retention of employment described in section 6(1)
of this chapter has not occurred.
(2) The date, time, and place of a hearing to be conducted:
(A) by the official; and
(B) not more than thirty (30) days after the date of the notice
under section 6(3) of this chapter;
to further consider the property owner's creation or retention of
employment as described in section 6(1) of this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-8 Hearing requirements; termination of deduction
Sec. 8. On the date specified in the notice described in section
6(3) of this chapter, the official shall conduct a hearing for the
purpose of further considering the property owner's creation or
retention of employment as described in section 6(1) of this chapter.
Based on the information presented at the hearing by the property
owner and other interested parties, the official shall determine
whether the property owner has made reasonable efforts to create or
retain employment as described in section 6(1) of this chapter and
whether any failure to create or retain employment was caused by
factors beyond the control of the property owner. If the official
determines that the property owner has not made reasonable efforts
to create or retain employment, the official shall determine that the
property owner's deduction under this chapter is terminated. If the
official terminates the deduction, the deduction does not apply to:
(1) the next installment of property taxes owed by the property
owner; or
(2) any subsequent installment of property taxes. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-9 Notice of termination
Sec. 9. If an official terminates a deduction under section 8 of this
chapter:
(1) the official shall immediately mail a certified copy of the
determination to:
(A) the property owner; and
(B) if the determination is made by the county assessor or
the township assessor (if any), the county auditor;
(2) the county auditor shall:
(A) remove the deduction from the tax duplicate; and
(B) notify the county treasurer of the termination of the
deduction; and
(3) if the official's determination to terminate the deduction
occurs after the county treasurer has mailed the statement
required by IC 6-1.1-22-8.1, the county treasurer shall
immediately mail the property owner a revised statement that
reflects the termination of the deduction. As added by P.L.193-2005, SEC.8. Amended by P.L.3-2008, SEC.40;
P.L.146-2008, SEC.132.
IC 6-1.1-12.4-10 Appeal of termination
Sec. 10. A property owner whose deduction is terminated under
section 8 of this chapter may appeal the official's decision by filing
a complaint in the office of the clerk of the circuit or superior court
together with a bond conditioned to pay the costs of the appeal if the
appeal is determined against the property owner. The court shall:
(1) hear an appeal under this section promptly without a jury;
and
(2) determine the appeal not later than thirty (30) days after the
date of the filing of the appeal.
The judgment of the court is final and conclusive unless an appeal is
taken as in other civil actions. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-11 Taxes not due while appeal pending
Sec. 11. If an appeal under section 10 of this chapter is pending,
the taxes resulting from the termination of the deduction are not due
until after the appeal is finally adjudicated and the termination of the
deduction is finally determined. As added by P.L.193-2005, SEC.8. IC 6-1.1-12.4-12 Change of ownership
Sec. 12. If ownership of the real property or new personal
property changes, the deduction under this chapter continues to apply
to the real property or personal property, and the amount of
deduction is the product of:
(1) the percentage under section 2(c)(2)(B) or 3(c)(2)(B) of this
chapter that would have applied if the ownership of the property
had not changed; multiplied by
(2) the assessed value of the real property or personal property
for the year the new owner qualifies for the deduction. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-13 Department of local government finance rulemaking
Sec. 13. The department of local government finance shall adopt
rules under IC 4-22-2 to implement this chapter. As added by P.L.193-2005, SEC.8.
IC 6-1.1-12.4-14 Correction of error in deduction amount
Sec. 14. If:
(1) as the result of an error the county auditor applies a
deduction under this chapter for a particular assessment date in
an amount that is less than the amount to which the taxpayer is
entitled under this chapter; and
(2) the taxpayer is entitled to a correction of the error under this
article;
the county auditor shall apply the correction of the error in the
manner that corrections are applied under IC 6-1.1-12.1-15. As added by P.L.219-2007, SEC.36.
