Section 50 IAC 26-7-4 - Economic revitalization area deductionAuthority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-12.1; IC 6-1.1-31.5
Sec. 4.
Tax and billing software must be able to do the following:
(1) Calculate economic revitalization area deductions in the manner prescribed under IC 6-1.1-12.1.(2) Identify the following elements necessary for calculation of an economic revitalization area deduction:(A) Parcel or property receiving the deduction.(B) The number of years the parcel or property is to receive the deduction.(C) The percentage of the deduction for each year the parcel or property is to receive the deduction.(D) The assessed value eligible to receive the deduction.(E) The specific improvement to receive the deduction, if multiple improvements exist on a parcel receiving a deduction.Department of Local Government Finance; 50 IAC 26-7-4; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA