Indiana Code 6-1.1-12-39. Person not qualified for exemption purchasing exempt property under contract for sale; entitlement to deduction
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Sec. 39. (a) A person who is:
(2) required to pay property taxes under IC 6-1.1-10-41;
(1) purchasing property under a contract that does not require the buyer to pay property taxes on the property; and
Terms Used In Indiana Code 6-1.1-12-39
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
is eligible for a deduction granted by this chapter to the same extent as a person who is buying property under a contract that provides the contract buyer is to pay property taxes on the property.
(b) To obtain the deduction, with the application the applicant must provide:
(1) the same information concerning the contract that is required for contracts that require the buyer to pay property taxes; and
(2) information that indicates that IC 6-1.1-10-41 applies to the property.
As added by P.L.31-1994, SEC.2.