LegalFix
Sign In

6-1.1-12-39. Person not qualified for exemption purchasing exempt property under contract for sale; entitlement to deduction

IN Code § 6-1.1-12-39 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 39. (a) A person who is:

(1) purchasing property under a contract that does not require the buyer to pay property taxes on the property; and

(2) required to pay property taxes under IC 6-1.1-10-41;

is eligible for a deduction granted by this chapter to the same extent as a person who is buying property under a contract that provides the contract buyer is to pay property taxes on the property.

(b) To obtain the deduction, with the application the applicant must provide:

(1) the same information concerning the contract that is required for contracts that require the buyer to pay property taxes; and

(2) information that indicates that IC 6-1.1-10-41 applies to the property.

As added by P.L.31-1994, SEC.2.

Previous Section
6-1.1-12-38. Deduction for improvements to comply with fertilizer storage rules; prerequisites for filing limitations
Next Section
6-1.1-12-40. Deductions for real property located in enterprise zones