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Indiana Administrative Code (Last Updated: December 20, 2016) |
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Title 50. DEPARTMENT OF LOCAL GOVERNMENT FINANCE |
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Article 50IAC26. COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM |
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Rule 50IAC26-7. Property Tax and Billing Calculation Standards |
Section 50IAC26-7-7. Homestead eligibility
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Tax and billing software must be able to accept assessed value separated into the gross assessed value of each of the following:
(1) Land eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37.
(2) Improvements eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37.
(3) Land eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6-1.1-20.6-4.
(4) Improvements eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6-1.1-20.6-4.
(5) Land eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5.
(6) Improvements and personal property eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5.
(Department of Local Government Finance; 50 IAC 26-7-7; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA)