Sec. 7. (a) If ownership of the model residence changes:

(1) a new owner that continues to use the property as a model residence may claim the deduction under this chapter; and

Terms Used In Indiana Code 6-1.1-12.6-7

  • model residence: means real property that consists of a single family residence, single family townhouse, or single family condominium unit that:

    Indiana Code 6-1.1-12.6-1

  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) the deduction may not be applied for an assessment date other than the assessment dates to which the deduction could have applied under section 2 of this chapter if ownership had not changed.

     (b) A person who owns a model residence and claims a deduction under this chapter shall provide to the county auditor a notice that:

(1) informs the auditor of a transfer of the ownership of the model residence; and

(2) indicates whether the new owner is eligible to receive a deduction under this chapter.

The notice required by this subsection must be submitted to the county auditor at the same time that a sales disclosure form is filed under IC 6-1.1-5.5.

As added by P.L.70-2008, SEC.1.

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