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Indiana Code Title 6. Taxation § 6-1.1-51.3-1

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

Sec. 1. (a) An individual is entitled to a credit against local property taxes imposed on the individual's real property, or mobile home or manufactured home within the county, if:

(1) the individual is at least sixty-five (65) years of age on or before December 31 of the calendar year preceding the year in which the credit is claimed;

(2) the individual has owned the real property, mobile home, or manufactured home for at least one (1) year before claiming the credit;  or the individual has been buying the real property, mobile home, or manufactured home under a contract that provides that the individual is to pay the property taxes on the real property, mobile home, or manufactured home for at least one (1) year before claiming the credit, and the contract or a memorandum of the contract is recorded in the county recorder's office;

(3) the individual:

(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 credit is claimed;  and

(4) the:

(A) individual had, in the case of an individual who filed a single return, adjusted gross income (as defined in Section 62 of the Internal Revenue Code) not exceeding sixty thousand dollars ($60,000);

(B) individual had, in the case of an individual who filed a joint income tax return with the individual's spouse, combined adjusted gross income (as defined in Section 62 of the Internal Revenue Code) not exceeding seventy thousand dollars ($70,000);  or

(C) combined adjusted gross income (as defined in Section 62 of the Internal Revenue Code) of the individual and all other individuals with whom:

(i) the individual shares ownership;  or

(ii) the individual is purchasing the property under a contract;

as joint tenants or tenants in common did not exceed seventy thousand dollars ($70,000);

for the calendar year preceding by two (2) years the calendar year in which the property taxes are first due and payable.

(b) The amount of the credit is equal to one hundred fifty dollars ($150).

(c) An individual may not be denied the credit provided under this section because the individual is absent from the real property, mobile home, or manufactured home while in a nursing home or hospital.

(d) For purposes of this section, if real property, a mobile home, or a manufactured home is owned by:

(1) tenants by the entirety;

(2) joint tenants;  or

(3) tenants in common;

only one (1) credit may be allowed.  However, the age requirement is satisfied if any one (1) of the tenants is at least sixty-five (65) years of age.

(e) A surviving spouse is entitled to the credit provided by this section if:

(1) the surviving spouse is at least sixty (60) years of age on or before December 31 of the calendar year preceding the year in which the credit is claimed;

(2) the surviving spouse's deceased husband or wife was at least sixty-five (65) years of age at the time of a death;  and

(3) the surviving spouse has not remarried.

(f) An individual who has sold real property to another person under a contract that provides that the contract buyer is to pay the property taxes on the real property may not claim the credit provided under this section against that real property.

(g) If individuals share ownership or are purchasing the property under a contract as joint tenants or tenants in common and all of the tenants are not at least sixty-five (65) years of age, the credit allowed under this section shall be reduced by an amount equal to the credit multiplied by a fraction.  The numerator of the fraction is the number of tenants who are not at least sixty-five (65) years of age, and the denominator is the total number of tenants.

(h) An individual wishing to claim a credit under this section must file a statement, on forms prescribed by the department of local government finance, with the county auditor and provide documentation necessary to substantiate the individual's eligibility for the credit.  The statement must be completed and dated on or before January 15 of the calendar year in which the property taxes are first due and payable.  The statement may be filed in person or by mail.  If mailed, the mailing must be postmarked on or before the last day for filing.  An individual who remains eligible for the credit in the following year is not required to file a statement to apply for the credit in the following year.  However, an individual who receives a credit under this section in a particular year and who becomes ineligible for the credit in the following year shall notify the auditor of the county in which the homestead is located of the individual's ineligibility not later than sixty (60) days after the individual becomes ineligible.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-1.1-51.3-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-1-1-51-3-1/

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