IC 6-1.1-42-17: Application for assessed valuation deduction

Sec. 17. (a) A person may apply for an assessed valuation deduction for:

(1) real property; and

(2) personal property;

located in an area designated as a brownfield revitalization zone.

(b) An application for a deduction for an improvement to a brownfield revitalization zone or personal property located in a brownfield revitalization area must:

(1) be submitted to the designating body before the date that the improvement is initiated or, if the deduction is for personal property, the property is brought into the area;

(2) contain sufficient information for the designating body to approve the deduction; and

(3) be submitted in the form prescribed by the department of local government finance.