Sec. 45. (a) Tangible personal property consisting of a sign that is manufactured for the Indiana department of transportation in order for the department to comply with 23 U.S.C. § 131 is exempt from personal property taxation.

     (b) The owner of personal property that wishes to obtain the exemption provided by this section must file an exemption claim along with the owner’s annual personal property tax return. The claim must describe and state the assessed value of the personal property for which an exemption is claimed.

Terms Used In Indiana Code 6-1.1-10-45

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
  • Personal property: All property that is not real property.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (c) The township or county assessor shall:

(1) review the exemption claim; and

(2) allow or deny the exemption claim in whole or in part.

The assessor’s action is subject to all the provisions of this article pertaining to notice, review, or appeal of personal property assessments.

     (d) The township or county assessor shall reduce the assessed value of the owner’s personal property for the year for which the exemption is claimed by the amount of exemption allowed.

As added by P.L.257-2013, SEC.4.