Sec. 16. (a) Except as provided in section 40.5 of this chapter, a surviving spouse may have the sum of eighteen thousand seven hundred
twenty dollars ($18,720) deducted from the assessed value of his or her tangible property,
or real property, mobile home not assessed as real property, or manufactured home
not assessed as real property that the surviving spouse is buying under a contract
that provides that the surviving spouse is to pay property taxes on the real property,
mobile home, or manufactured home, if the contract or a memorandum of the contract
is recorded in the county recorder's office, and if:
(1) the deceased spouse served in the military or naval forces of the United States
before November 12, 1918;
(2) the deceased spouse received an honorable discharge; and
(3) the surviving spouse:
(A) owns the real property, mobile home, or manufactured home; or
(B) is buying the real property, mobile home, or manufactured home under contract;
on the date the statement required by section 17 of this chapter is filed.
(b) A surviving spouse who receives the deduction provided by this section may not
receive the deduction provided by section 13 of this chapter. However, he or she may receive any other deduction which he or she is entitled to
(c) An individual who has sold real property, a mobile home not assessed as real property,
or a manufactured home not assessed as real property to another person under a contract
that provides that the contract buyer is to pay the property taxes on the real property,
mobile home, or manufactured home may not claim the deduction provided under this
section against that real property, mobile home, or manufactured home.
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