IC 6-1.1-52-2: "Homestead property tax liability"

Sec. 2. As used in this chapter, "homestead property tax liability" refers to a liability for property taxes:

(1) that are assessed on tangible property that is a homestead, including all tangible property, regardless of type, located in any parcel that contains the homestead; and

(2) that would be first due and payable in a certain year if the property taxes were not deferred under this chapter.

The term refers to a property tax liability after the application of all deductions and credits for which the homestead is eligible.