Indiana Code 6-1.1-46.2-7. Entitlement to deduction; eligible vacant building used for commercial or industrial purposes
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Sec. 7. Except as otherwise provided in this chapter, if an application is approved by resolution of the district board and by resolution of the fiscal body of the municipality under section 6 of this chapter, the owner of the eligible vacant building is entitled to a deduction from the assessed value of the building if the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes. The property owner is entitled to the deduction:
(2) for subsequent years determined in the abatement schedule under section 8 of this chapter in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes.
(1) for the first year in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes; and
Terms Used In Indiana Code 6-1.1-46.2-7
- district: refers to an entrepreneur and enterprise district designated under Indiana Code 6-1.1-46.2-1
- eligible vacant building: means a building that:
Indiana Code 6-1.1-46.2-3
- 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
As added by P.L.238-2017, SEC.18.