50 IAC 26-6-3 Homestead eligibility

Sec. 3. The assessment system must be able to separate the assessed value into the gross assessed value of each of the following: (1) Land eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37. (2) Improvements eligible for the one percent (1%) tax cap under the definition in IC 6-1.1-12-37. (3) Land eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6-1.1-20.6-4. (4) Improvements eligible for the two percent (2%) tax cap under the definitions in IC 6-1.1-20.6-0.5, IC 6-1.1-20.6-2.3, and IC 6-1.1-20.6-4. (5) Land eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5. (6) Improvements and personal property eligible for the three percent (3%) tax cap under the definition in IC 6-1.1-20.6-2.5. (7) Other elements as required by statute eliminating the need for reentry in the tax and billing system.