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Indiana Code Title 6. Taxation § 6-1.1-12.8-7

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 7. (a) If ownership of the residence in inventory changes:

(1) a new owner that is a residential builder for which the property is a residence in inventory may claim the deduction under this chapter; and

(2) the deduction may not be applied for an assessment date other than the assessment dates to which the deduction could have applied under section 3 of this chapter if ownership had not changed.

(b) A person who owns a residence in inventory and claims a deduction under this chapter shall provide to the county auditor a notice that:

(1) informs the auditor of a transfer of the ownership of the residence in inventory; and

(2) indicates whether the new owner is eligible to receive a deduction under this chapter.

The notice required by this subsection must be submitted to the county auditor at the same time that a sales disclosure form is filed under IC 6-1.1-5.5.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-1.1-12.8-7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-1-1-12-8-7/

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