Indiana Administrative Code (Last Updated: December 20, 2016) |
Title 50. DEPARTMENT OF LOCAL GOVERNMENT FINANCE |
Article 50IAC4.2. ASSESSMENT OF TANGIBLE PERSONAL PROPERTY |
Rule 50IAC4.2-11.1. Deductions and Exemptions for Business Personal Property |
Section 50IAC4.2-11.1-5. Waiver of exemption
Latest version.
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An exemption is a privilege which may be waived by a person who owns property that would qualify for the exemption. If the owner does not comply with the statutory procedures for obtaining an exemption, it waives the exemption. If the exemption is waived, the property is subject to taxation (IC 6-1.1-11-1). (Department of Local Government Finance; 50 IAC 4.2-11.1-5; filed Feb 26, 2010, 2:43 p.m.: 20100324-IR-050090576FRA)