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IC 6-1.1-20.6-0.5
"Agricultural land"
Effective 1-1-2009.
Sec. 0.5. As used in this chapter, "agricultural land" refers to land
assessed as agricultural land under the real property assessment rules
and guidelines of the department of local government finance.
As added by P.L.146-2008, SEC.213.
IC 6-1.1-20.6-1 Version a
"Apartment complex"
Note: This version of section effective until 1-1-2009. See also
following repeal of this section, effective 1-1-2009.
Sec. 1. As used in this chapter, "apartment complex" means real
property consisting of at least five (5) units that are regularly used to
rent or otherwise furnish residential accommodations for periods of
thirty (30) days or more.
As added by P.L.246-2005, SEC.62.
IC 6-1.1-20.6-1 Version b
Repealed
(Repealed by P.L.146-2008, SEC.811.)
Note: This repeal of section effective 1-1-2009. See also
preceding version of this section, effective until 1-1-2009.
IC 6-1.1-20.6-1.6
"Gross assessed value"
Effective 1-1-2009.
Sec. 1.6. As used in this chapter, "gross assessed value" refers to
the assessed value of property after the application of all exemptions
under IC 6-1.1-10 or any other provision.
As added by P.L.146-2008, SEC.214.
IC 6-1.1-20.6-2 Version a
"Homestead"
Note: This version of section effective until 1-1-2009. See also
following version of this section, effective 1-1-2009.
Sec. 2. As used in this chapter, "homestead" has the meaning set
forth in IC 6-1.1-20.9-1.
As added by P.L.246-2005, SEC.62.
IC 6-1.1-20.6-2 Version b
"Homestead"
Note: This version of section effective 1-1-2009. See also
preceding version of this section, effective until 1-1-2009.
Sec. 2. (a) As used in this chapter, "homestead" has the meaning
set forth in IC 6-1.1-12-37.
(b) The term includes a house or apartment that is owned or
leased by a cooperative housing corporation (as defined in 26 U.S.C.
216(b)).
As added by P.L.246-2005, SEC.62. Amended by P.L.146-2008,
SEC.215.
IC 6-1.1-20.6-2.3
"Long term care property"
Effective 1-1-2009.
Sec. 2.3. As used in this chapter, "long term care property" means
property that:
(1) is used for the long term care of an impaired individual; and
(2) is one (1) of the following:
(A) A health facility licensed under IC 16-28.
(B) A housing with services establishment (as defined in
IC 12-10-15-3) that is allowed to use the term "assisted
living" to describe the housing with services establishment's
services and operations to the public.
(C) An independent living home that, under contractual
agreement, serves not more than eight (8) individuals who:
(i) have a mental illness or developmental disability;
(ii) require regular but limited supervision; and
(iii) reside independently of their families.
As added by P.L.146-2008, SEC.216.
IC 6-1.1-20.6-2.4
"Manufactured home"; "mobile home"
Effective 1-1-2009.
Sec. 2.4. As used in this chapter:
(1) "manufactured home" has the meaning set forth in
IC 22-12-1-16; and
(2) "mobile home" has the meaning set forth in IC 16-41-27-4.
As added by P.L.146-2008, SEC.217.
IC 6-1.1-20.6-2.5
"Nonresidential real property"
Effective 1-1-2009.
Sec. 2.5. (a) As used in this chapter, "nonresidential real property"
refers to either of the following:
(1) Real property that:
(A) is not:
(i) a homestead; or
(ii) residential property; and
(B) consists of:
(i) a building or other land improvement; and
(ii) the land, not exceeding the area of the building
footprint or improvement footprint, on which the building
or improvement is located.
(2) Undeveloped land in the amount of the remainder of:
(A) the area of a parcel; minus
(B) the area of the parcel that is part of:
IC 6-1.1-20.6-3
"Property tax liability"
Sec. 3. As used in this chapter, "property tax liability" means, for
purposes of:
(1) this chapter, other than section 8.5 of this chapter, liability
for the tax imposed on property under this article determined
after application of all credits and deductions under this article
or IC 6-3.5, except the credit under this chapter, but does not
include any interest or penalty imposed under this article; and
(2) section 8.5 of this chapter, liability for the tax imposed on
property under this article determined after application of all
credits and deductions under this article or IC 6-3.5, including
the credit granted by section 7 or 7.5 of this chapter, but not
including the credit granted under section 8.5 of this chapter or
any interest or penalty imposed under this article.
As added by P.L.246-2005, SEC.62. Amended by P.L.146-2008,
SEC.219.
IC 6-1.1-20.6-3.5
"Qualified homestead property"
Sec. 3.5. As used in this chapter, "qualified homestead property"
means a homestead that satisfies the following requirements:
(1) The individual who:
(A) owns the homestead;
(B) is purchasing the homestead under a contract, recorded
in the county recorder's office, that provides that the
individual is to pay the property taxes on the residence; or
(C) has a beneficial interest in the owner of the homestead;
is or will be at least sixty-five (65) years of age on or before
December 31 of the calendar year immediately preceding the
calendar year in which property taxes are first due and payable.
(2) The:
(A) adjusted gross income (as defined in Section 62 of the
Internal Revenue Code) of the individual claiming the credit
for a homestead; or
(B) combined adjusted gross income (as defined in Section
62 of the Internal Revenue Code) of the individual and the
individual's spouse;
does not exceed the amount determined under section 8.5 of this
chapter for the calendar year preceding the calendar year in
which property taxes are first due and payable by two (2).
(3) The gross assessed value of the homestead on the
assessment date for which property taxes are imposed is less
than one hundred sixty thousand dollars ($160,000).
As added by P.L.146-2008, SEC.220.
IC 6-1.1-20.6-4 Version b
"Residential property"
Note: This version of section effective 1-1-2009. See also
preceding version of this section, effective until 1-1-2009.
Sec. 4. As used in this chapter, "residential property" refers to real
property that consists of any of the following:
(1) A single family dwelling that is not part of a homestead and
the land, not exceeding one (1) acre, on which the dwelling is
located.
(2) Real property that consists of:
(A) a building that includes two (2) or more dwelling units;
(B) any common areas shared by the dwelling units; and
(C) the land, not exceeding the area of the building footprint,
on which the building is located.
(3) Land rented or leased for the placement of a manufactured
home or mobile home, including any common areas shared by
the manufactured homes or mobile homes.
As added by P.L.246-2005, SEC.62. Amended by P.L.162-2006,
SEC.7; P.L.146-2008, SEC.221; P.L.131-2008, SEC.4.
IC 6-1.1-20.6-5 Version a
"Residential rental property"
Note: This version of section effective until 1-1-2009. See also
following repeal of this section, effective 1-1-2009.
Sec. 5. As used in this chapter, "residential rental property" means
real property consisting of not more than (4) units that are regularly
used to rent or otherwise furnish residential accommodations for
periods of thirty (30) days or more.
As added by P.L.246-2005, SEC.62.
IC 6-1.1-20.6-5 Version b
(Repealed by P.L.146-2008, SEC.811.)
Note: This repeal of section effective 1-1-2009. See also
preceding version of this section, effective until 1-1-2009.
IC 6-1.1-20.6-6 Version b
Repealed
(Repealed by P.L.146-2008, SEC.811.)
Note: This repeal of section effective 1-1-2009. See also
preceding version of this section, effective until 1-1-2009.
IC 6-1.1-20.6-6.5 Version a
Eligibility for credit after 2006 in Lake County and 2007 in other
counties
Note: This version of section effective until 1-1-2009. See also
following repeal of this section, effective 1-1-2009.
Sec. 6.5. (a) This subsection applies only to property taxes first
due and payable after December 31, 2006, and before January 1,
2008, attributable to qualified residential property located in Lake
County. A person is entitled to a credit each calendar year under
section 7(a) of this chapter against the person's property tax liability
for property taxes first due and payable in that calendar year
attributable to the person's qualified residential property. However,
the county fiscal body may, by ordinance adopted before January 1,
2007, limit the application of the credit granted by this subsection to
homesteads.
(b) This subsection applies only to property taxes first due and
payable after December 31, 2007, and before January 1, 2010. A
person is entitled to a credit each calendar year under section 7(a) of
this chapter against the person's property tax liability for property
taxes first due and payable in that calendar year attributable to:
(1) the person's qualified residential property, in the case of a
calendar year before 2008; or
(2) the person's homestead (as defined in IC 6-1.1-20.9-1)
property, in the case of a calendar year after 2007 and before
2010.
(c) This subsection applies only to property taxes first due and
payable after December 31, 2009. A person is entitled to a credit
each calendar year under section 7(b) of this chapter against the
person's property tax liability for property taxes first due and payable
in that calendar year attributable to the person's real property and
personal property.
As added by P.L.162-2006, SEC.9. Amended by P.L.1-2007, SEC.43;
P.L.224-2007, SEC.37.
IC 6-1.1-20.6-6.5 Version b
Repealed
(Repealed by P.L.146-2008, SEC.811.)
Note: This repeal of section effective 1-1-2009. See also
preceding version of this section, effective until 1-1-2009.
IC 6-1.1-20.6-7
Calculation of credit
Sec. 7. (a) This subsection expires January 1, 2009. In the case of
a credit authorized under section 6 of this chapter or provided by
section 6.5(a) or 6.5(b) of this chapter for property taxes first due and
payable in a calendar year:
(1) 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
(A) the person's qualified residential property located in the
county, in the case of a calendar year before 2008; or
(B) the person's homestead. (as defined in IC 6-1.1-20.9-1)
property located in the county, in the case of a calendar year
after 2007 and before 2009; and
(2) the amount of the credit is the amount by which the person's
property tax liability attributable to
(A) the person's qualified residential property, in the case of
a calendar year before 2008; or
(B) the person's homestead property, in the case of a
calendar year after 2007 and before 2009;
for property taxes first due and payable in that calendar year exceeds
two percent (2%) of the gross assessed value that is the basis for
determination of property taxes on the qualified residential property
(in the case of a calendar year before 2008) or the person's
homestead property (in the case of a calendar year after 2007 and
before 2009) for property taxes first due and payable in that calendar
year, as adjusted under subsection (b).
(b) This subsection expires January 1, 2009. This subsection
applies to property taxes first due and payable in 2008. The amount
of a credit to which a person is entitled under subsection (a) in a
county shall be determined without including a taxpayer's property
tax liability for tuition support. Notwithstanding any other provision
of this chapter, a school corporation's tuition support property tax
levy collections may not be reduced because of a credit under this
chapter.
(c) This subsection applies to property taxes first due and payable
in 2009. A person is entitled to a credit against the person's property
tax liability for property taxes first due and payable in 2009. The
amount of the credit is the amount by which the person's property tax
liability attributable to the person's:
(1) homestead exceeds one and five-tenths percent (1.5%);
(2) residential property exceeds two and five-tenths percent
(2.5%);
(3) long term care property exceeds two and five-tenths percent
(2.5%);
(4) agricultural land exceeds two and five-tenths percent
(2.5%);
(5) nonresidential real property exceeds three and five-tenths
percent (3.5%); or
(6) personal property exceeds three and five-tenths percent
(3.5%);
of the gross assessed value of the property that is the basis for
determination of property taxes for that calendar year.
(d) This subsection applies to property taxes first due and payable
in 2009. Property taxes imposed after being approved by the voters
in a referendum or local public question shall not be considered for
purposes of calculating a person's credit under this section.
(e) This subsection applies to property taxes first due and payable
in 2009. As used in this subsection, "eligible county" means only a
county for which the general assembly determines in 2008 that limits
to property tax liability under this chapter are expected to reduce in
2010 the aggregate property tax revenue that would otherwise be
collected by all units of local government and school corporations in
the county by at least twenty percent (20%). Property taxes imposed
in an eligible county to pay debt service or make lease payments for
bonds or leases issued or entered into before July 1, 2008, shall not
be considered for purposes of calculating a person's credit under this
section.
As added by P.L.246-2005, SEC.62. Amended by P.L.162-2006,
SEC.10; P.L.224-2007, SEC.38; P.L.146-2008, SEC.222.
IC 6-1.1-20.6-7.5
Calculation of credit
Effective 1-1-2009.
Sec. 7.5. (a) A person is entitled to a credit against the person's
property tax liability for property taxes first due and payable after
2009. The amount of the credit is the amount by which the person's
property tax liability attributable to the person's:
(1) homestead exceeds one percent (1%);
(2) residential property exceeds two percent (2%);
(3) long term care property exceeds two percent (2%);
IC 6-1.1-20.6-8
Exemption from filing requirement
Sec. 8. Except as provided in section 8.5 of this chapter, a person
is not required to file an application for the credit under this chapter.
The county auditor shall:
(1) identify the property in the county eligible for the credit
under this chapter; and
(2) apply the credit under this chapter to property tax liability
on the identified property.
As added by P.L.246-2005, SEC.62. Amended by P.L.162-2006,
SEC.11; P.L.146-2008, SEC.224.
IC 6-1.1-20.6-8.5
Filing requirement; qualified homestead property credit
Sec. 8.5. (a) This section applies to property taxes first due and
payable for a calendar year after December 31, 2008. This section
applies to an individual who:
(1) qualified for a standard deduction granted under
IC 6-1.1-12-37 for the individual's homestead property in the
immediately preceding calendar year (or was married at the
time of death to a deceased spouse who qualified for a standard
deduction granted under IC 6-1.1-12-37 for the individual's
homestead property in the immediately preceding calendar
year); and
(2) qualifies for a standard deduction granted under
IC 6-1.1-12-37 for the same homestead property in the current
calendar year.
IC 6-1.1-20.6-9 Version a
Option to borrow money before 2007 to replace lost revenue
Note: This version of section effective until 1-1-2009. See also
following repeal of this section, effective 1-1-2009.
IC 6-1.1-20.6-9.5
Effect of credit on revenues
Sec. 9.5. (a) This section applies only to credits under this chapter
against property taxes first due and payable after December 31, 2006.
(b) The application of the credit under this chapter results in a
reduction of the property tax collections of each political subdivision
in which the credit is applied. A political subdivision may not
increase its property tax levy to make up for that reduction.
(c) The county auditor shall in each calendar year notify each
political subdivision in which the credit under this chapter is applied
of the reduction of property tax collections referred to in subsection
(b) for the political subdivision for that year.
(d) A political subdivision may not borrow money to compensate
the political subdivision or any other political subdivision for the
reduction of property tax collections referred to in subsection (b).
As added by P.L.162-2006, SEC.13.
IC 6-1.1-20.6-10
Payment of debt service obligations
Sec. 10. (a) As used in this section, "debt service obligations of a
political subdivision" refers to:
(1) the principal and interest payable during a calendar year on
bonds; and
(2) lease rental payments payable during a calendar year on
leases;
of a political subdivision payable from ad valorem property taxes.
(b) Political subdivisions are required by law to fully fund the
payment of their debt obligations in an amount sufficient to pay any
debt service or lease rentals on outstanding obligations, regardless of
any reduction in property tax collections due to the application of tax
credits granted under this chapter. Any reduction in collections must
be applied to the other funds of the political subdivision after debt
service or lease rentals have been fully funded.
(c) Upon the failure of a political subdivision to pay any of the
political subdivision's debt service obligations during a calendar year
when due, the treasurer of state, upon being notified of the failure by
a claimant, shall pay the unpaid debt service obligations that are due
from money in the possession of the state that would otherwise be
available for distribution to the political subdivision under any other
law, deducting the payment from the amount distributed. A
deduction under this subsection must be made:
(1) first from distributions of county adjusted gross income tax
distributions under IC 6-3.5-1.1, county option income tax
distributions under IC 6-3.5-6, or county economic development
income tax distributions under IC 6-3.5-7 that would otherwise
be distributed to the county under the schedule in
IC 6-3.5-1.1-10, IC 6-3.5-1.1-21.1, IC 6-3.5-6-16,
IC 6-3.5-6-17.3, IC 6-3.5-7-17, and IC 6-3.5-7-17.3; and
(2) second from any other undistributed funds of the political
subdivision in the possession of the state.
(d) This section shall be interpreted liberally so that the state shall
to the extent legally valid ensure that the debt service obligations of
each political subdivision are paid when due. However, this section
does not create a debt of the state.
As added by P.L.146-2008, SEC.226.
IC 6-1.1-20.6-11
Certification of credits granted
Sec. 11. The county auditor of each county shall certify to the
department of local government finance:
(1) the total amount of credits that are allowed under this
chapter in the county for the calendar year; and
(2) the amount that each taxing unit's distribution of property
taxes will be reduced under section 9.5 of this chapter as a
result of the granting of the credits.
If the amount of credits granted changes after the date the
certification is made, the county auditor shall submit an amended
certification to the department of local government finance. The
initial certification and the amended certifications shall be submitted
to the department of local government finance on the schedule
prescribed by the department of local government finance.
As added by P.L.146-2008, SEC.227.
IC 6-1.1-20.6-12
Application of credit of excise tax distribution calculations
Sec. 12. For purposes of computing and distributing after 2008
any excise taxes or local option income taxes for which the
distribution is based on the amount of a taxing unit's property tax
levy, the computation and distribution of the excise tax or local
option income tax shall be based on the taxing unit's property tax
levy as calculated before any reduction due to credits provided to
taxpayers under this chapter.
As added by P.L.146-2008, SEC.228.