IC 6-1.1-20.4
Chapter 20.4. Local Homestead Credits
IC 6-1.1-20.4-1 "Homestead"
Sec. 1. As used in this chapter, "homestead" has the meaning set
forth in IC 6-1.1-12-37. As added by P.L.246-2005, SEC.61. Amended by P.L.1-2009,
SEC.44.
IC 6-1.1-20.4-2 "Property tax liability"
Sec. 2. As used in this chapter, "property tax liability" means
liability for the tax imposed on property under this article determined
after application of all credits and deductions under this article,
except the credit under this chapter, but does not include any interest
or penalty imposed under this article. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-3 "Revenue"
Sec. 3. As used in this chapter, "revenue" includes revenue
received by a political subdivision under any law or from any person. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-4 Requirement for credit; adoption of ordinance or resolution
Sec. 4. (a) A political subdivision may adopt an ordinance or
resolution each year to provide for the use of revenue for the purpose
of providing a homestead credit the following year to homesteads.
An ordinance must be adopted under this section before December
31 for credits to be provided in the following year. The ordinance
applies only to the immediately following year.
(b) A homestead credit under this chapter is to be applied to the
net property tax liability due on the homestead. As added by P.L.246-2005, SEC.61. Amended by P.L.146-2008,
SEC.212.
IC 6-1.1-20.4-5 Calculation of credit
Sec. 5. An ordinance or resolution adopted under this chapter
must provide for a homestead credit that is either a uniform:
(1) percentage of the net property taxes due on the homestead
after the application of all other deductions and credits; or
(2) dollar amount applicable to each homestead.
The ordinance or resolution must specify the percentage or the dollar
amount. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-6 Credit applicable only to homestead
Sec. 6. If the credit under this chapter is authorized for property
taxes first due and payable in a calendar year, a person is entitled to
a credit against the person's property tax liability for property taxes
first due and payable in that calendar year attributable to the person's
homestead located in the county. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-7 Exemption from filing requirement
Sec. 7. A person is not required to file an application for the credit
under this chapter. The county auditor shall:
(1) identify qualified homesteads in the political subdivision
that are eligible for the credit under this chapter; and
(2) apply the credit under this chapter to property tax liability
on the identified homestead. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-8 Adjustment of distributions to reflect credit
Sec. 8. If an ordinance or resolution is adopted under this chapter,
the county auditor shall, for the calendar year in which a homestead
credit is authorized under this chapter, account for the revenue used
to provide the homestead credit in a manner so that no other political
subdivision in the county suffers a revenue loss because of the
allowance of the homestead credit. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-9 Limitations on recovering lost revenue
Sec. 9. The application of the credit under this chapter results in
a reduction of the property tax collections of the political subdivision
which provided the credit. A political subdivision may not increase
its property tax levy to make up for that reduction. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4
Chapter 20.4. Local Homestead Credits
IC 6-1.1-20.4-1 "Homestead"
Sec. 1. As used in this chapter, "homestead" has the meaning set
forth in IC 6-1.1-12-37. As added by P.L.246-2005, SEC.61. Amended by P.L.1-2009,
SEC.44.
IC 6-1.1-20.4-2 "Property tax liability"
Sec. 2. As used in this chapter, "property tax liability" means
liability for the tax imposed on property under this article determined
after application of all credits and deductions under this article,
except the credit under this chapter, but does not include any interest
or penalty imposed under this article. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-3 "Revenue"
Sec. 3. As used in this chapter, "revenue" includes revenue
received by a political subdivision under any law or from any person. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-4 Requirement for credit; adoption of ordinance or resolution
Sec. 4. (a) A political subdivision may adopt an ordinance or
resolution each year to provide for the use of revenue for the purpose
of providing a homestead credit the following year to homesteads.
An ordinance must be adopted under this section before December
31 for credits to be provided in the following year. The ordinance
applies only to the immediately following year.
(b) A homestead credit under this chapter is to be applied to the
net property tax liability due on the homestead. As added by P.L.246-2005, SEC.61. Amended by P.L.146-2008,
SEC.212.
IC 6-1.1-20.4-5 Calculation of credit
Sec. 5. An ordinance or resolution adopted under this chapter
must provide for a homestead credit that is either a uniform:
(1) percentage of the net property taxes due on the homestead
after the application of all other deductions and credits; or
(2) dollar amount applicable to each homestead.
The ordinance or resolution must specify the percentage or the dollar
amount. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-6 Credit applicable only to homestead
Sec. 6. If the credit under this chapter is authorized for property
taxes first due and payable in a calendar year, a person is entitled to
a credit against the person's property tax liability for property taxes
first due and payable in that calendar year attributable to the person's
homestead located in the county. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-7 Exemption from filing requirement
Sec. 7. A person is not required to file an application for the credit
under this chapter. The county auditor shall:
(1) identify qualified homesteads in the political subdivision
that are eligible for the credit under this chapter; and
(2) apply the credit under this chapter to property tax liability
on the identified homestead. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-8 Adjustment of distributions to reflect credit
Sec. 8. If an ordinance or resolution is adopted under this chapter,
the county auditor shall, for the calendar year in which a homestead
credit is authorized under this chapter, account for the revenue used
to provide the homestead credit in a manner so that no other political
subdivision in the county suffers a revenue loss because of the
allowance of the homestead credit. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-9 Limitations on recovering lost revenue
Sec. 9. The application of the credit under this chapter results in
a reduction of the property tax collections of the political subdivision
which provided the credit. A political subdivision may not increase
its property tax levy to make up for that reduction. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4
Chapter 20.4. Local Homestead Credits
IC 6-1.1-20.4-1 "Homestead"
Sec. 1. As used in this chapter, "homestead" has the meaning set
forth in IC 6-1.1-12-37. As added by P.L.246-2005, SEC.61. Amended by P.L.1-2009,
SEC.44.
IC 6-1.1-20.4-2 "Property tax liability"
Sec. 2. As used in this chapter, "property tax liability" means
liability for the tax imposed on property under this article determined
after application of all credits and deductions under this article,
except the credit under this chapter, but does not include any interest
or penalty imposed under this article. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-3 "Revenue"
Sec. 3. As used in this chapter, "revenue" includes revenue
received by a political subdivision under any law or from any person. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-4 Requirement for credit; adoption of ordinance or resolution
Sec. 4. (a) A political subdivision may adopt an ordinance or
resolution each year to provide for the use of revenue for the purpose
of providing a homestead credit the following year to homesteads.
An ordinance must be adopted under this section before December
31 for credits to be provided in the following year. The ordinance
applies only to the immediately following year.
(b) A homestead credit under this chapter is to be applied to the
net property tax liability due on the homestead. As added by P.L.246-2005, SEC.61. Amended by P.L.146-2008,
SEC.212.
IC 6-1.1-20.4-5 Calculation of credit
Sec. 5. An ordinance or resolution adopted under this chapter
must provide for a homestead credit that is either a uniform:
(1) percentage of the net property taxes due on the homestead
after the application of all other deductions and credits; or
(2) dollar amount applicable to each homestead.
The ordinance or resolution must specify the percentage or the dollar
amount. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-6 Credit applicable only to homestead
Sec. 6. If the credit under this chapter is authorized for property
taxes first due and payable in a calendar year, a person is entitled to
a credit against the person's property tax liability for property taxes
first due and payable in that calendar year attributable to the person's
homestead located in the county. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-7 Exemption from filing requirement
Sec. 7. A person is not required to file an application for the credit
under this chapter. The county auditor shall:
(1) identify qualified homesteads in the political subdivision
that are eligible for the credit under this chapter; and
(2) apply the credit under this chapter to property tax liability
on the identified homestead. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-8 Adjustment of distributions to reflect credit
Sec. 8. If an ordinance or resolution is adopted under this chapter,
the county auditor shall, for the calendar year in which a homestead
credit is authorized under this chapter, account for the revenue used
to provide the homestead credit in a manner so that no other political
subdivision in the county suffers a revenue loss because of the
allowance of the homestead credit. As added by P.L.246-2005, SEC.61.
IC 6-1.1-20.4-9 Limitations on recovering lost revenue
Sec. 9. The application of the credit under this chapter results in
a reduction of the property tax collections of the political subdivision
which provided the credit. A political subdivision may not increase
its property tax levy to make up for that reduction. As added by P.L.246-2005, SEC.61.
