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6-1.1-46.2-7. Entitlement to deduction; eligible vacant building used for commercial or industrial purposes

IN Code § 6-1.1-46.2-7 (2019) (N/A)
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Sec. 7. Except as otherwise provided in this chapter, if an application is approved by resolution of the district board and by resolution of the fiscal body of the municipality under section 6 of this chapter, the owner of the eligible vacant building is entitled to a deduction from the assessed value of the building if the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes. The property owner is entitled to the deduction:

(1) for the first year in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes; and

(2) for subsequent years determined in the abatement schedule under section 8 of this chapter in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes.

As added by P.L.238-2017, SEC.18.

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6-1.1-46.2-6. District board review of application; resolution to approve deduction; required findings; approval by fiscal body of municipality
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6-1.1-46.2-8. Abatement schedule; duration