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Indiana Code Title 6. Taxation § 6-1.1-20.6-7.7

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

Sec. 7.7. (a) This section applies for property taxes first due and payable in calendar years beginning after December 31, 2025.

(b) A person who qualifies for a standard deduction from the assessed value of the person's homestead under IC 6-1.1-12-37 (or is married at the time of death to a deceased spouse who qualifies for a standard deduction under IC 6-1.1-12-37 for the person's homestead) is also entitled to receive a supplemental homestead credit under this section against the person's property tax liability on the same homestead to which the standard deduction applies.

(c) The amount of the credit is equal to the lesser of:

(1) the result of:

(A) the property tax liability first due and payable on the homestead property for the calendar year;  multiplied by

(B) one-tenth (0.1);  or

(2) three hundred dollars ($300).

(d) Property taxes imposed after being approved by the voters in a referendum or local public question shall not be considered for purposes of calculating a person's credit under this section.

(e) A person is not required to file an application for the credit under this section.  The county auditor shall:

(1) identify the property in the county eligible for the credit under this section;  and

(2) apply the credit under this section to property tax liability on the identified property.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-1.1-20.6-7.7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-1-1-20-6-7-7/

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