Bill Text: IN HB1095 | 2011 | Regular Session | Introduced
Bill Title: Property tax deduction for mortise and tenon barn.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-01-05 - First reading: referred to Committee on Ways and Means [HB1095 Detail]
Download: Indiana-2011-HB1095-Introduced.html
Introduced Version
HOUSE BILL No. 1095
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-1.1-12-25.2.
Synopsis: Property tax deduction for mortise and tenon barn. Permits
a person to receive a 100% deduction against the assessed value of
certain mortise and tenon barns.
Effective: Upon passage.
Cherry
January 5, 2011, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 117th General Assembly (2011)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
HOUSE BILL No. 1095
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-1.1-12-25.2; (11)IN1095.1.1. -->
SECTION 1. IC 6-1.1-12-25.2 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE UPON PASSAGE]: Sec. 25.2. (a) The following
definitions apply throughout this section:
(1) "Eligible applicant" means:
(A) an owner of an eligible mortise and tenon barn; and
(B) a person that is buying property, including an eligible mortise and tenon barn under a contract, that:
(i) gives the person a right to obtain title to the property upon fulfilling the terms of the contact;
(ii) that does not permit the owner to terminate the contract as long as the person buying the property complies with the terms of the contract;
(iii) specifies that during the term of the contract the person must pay the property taxes on the property; and
(iv) has been recorded with the county recorder.
(2) "Eligible mortise and tenon barn" means a barn that:
(A) was built using heavy wooden timbers, joined together with wood pegged mortise and tenon joinery, that form an exposed structural frame;
(B) was originally placed in service for an agricultural purpose before 1936;
(C) has, on an assessment date, substantially the same size, design, and construction as the original structure; and
(D) is, on an assessment date, used predominately for an agricultural purpose.
(b) An eligible applicant is entitled to a deduction against the assessed value of the structure and foundation of an eligible mortise and tenon barn. The deduction is equal to one hundred percent (100%) of the assessed value of the structure and foundation of the eligible mortise and tenon barn.
(c) An eligible applicant who desires to obtain the deduction provided by this section must file a certified deduction application with the auditor of the county in which the eligible mortise and tenon barn is located. The application may be filed in person or by mail. The application must contain the information and be in the form prescribed by the department of local government finance. If mailed, the mailing must be postmarked on or before the last day for filing.
(d) Subject to subsection (e) and section 45 of this chapter, the application must be filed during the year preceding the year in which the deduction will first be applied. Upon verification of the application by the assessor of the township in which the property is subject to assessment or the county assessor (if there is no township assessor for the township), the county auditor shall allow the deduction.
(e) The auditor of a county shall, in a particular year, apply the deduction provided under this section to each person that received the deduction in the preceding year unless the county auditor determines that the person is no longer eligible for the deduction. A person that receives a deduction under this section in a particular year and that remains eligible for the deduction in the following year is not required to file an application for the deduction in the following year. A person that received a deduction under this section in a particular year and that becomes ineligible for the deduction in the following year shall notify the auditor of the county in which the property is located of the ineligibility in the year in which the person becomes ineligible. However, a deduction under this section does not terminate following the removal of less
(1) "Eligible applicant" means:
(A) an owner of an eligible mortise and tenon barn; and
(B) a person that is buying property, including an eligible mortise and tenon barn under a contract, that:
(i) gives the person a right to obtain title to the property upon fulfilling the terms of the contact;
(ii) that does not permit the owner to terminate the contract as long as the person buying the property complies with the terms of the contract;
(iii) specifies that during the term of the contract the person must pay the property taxes on the property; and
(iv) has been recorded with the county recorder.
(2) "Eligible mortise and tenon barn" means a barn that:
(A) was built using heavy wooden timbers, joined together with wood pegged mortise and tenon joinery, that form an exposed structural frame;
(B) was originally placed in service for an agricultural purpose before 1936;
(C) has, on an assessment date, substantially the same size, design, and construction as the original structure; and
(D) is, on an assessment date, used predominately for an agricultural purpose.
(b) An eligible applicant is entitled to a deduction against the assessed value of the structure and foundation of an eligible mortise and tenon barn. The deduction is equal to one hundred percent (100%) of the assessed value of the structure and foundation of the eligible mortise and tenon barn.
(c) An eligible applicant who desires to obtain the deduction provided by this section must file a certified deduction application with the auditor of the county in which the eligible mortise and tenon barn is located. The application may be filed in person or by mail. The application must contain the information and be in the form prescribed by the department of local government finance. If mailed, the mailing must be postmarked on or before the last day for filing.
(d) Subject to subsection (e) and section 45 of this chapter, the application must be filed during the year preceding the year in which the deduction will first be applied. Upon verification of the application by the assessor of the township in which the property is subject to assessment or the county assessor (if there is no township assessor for the township), the county auditor shall allow the deduction.
(e) The auditor of a county shall, in a particular year, apply the deduction provided under this section to each person that received the deduction in the preceding year unless the county auditor determines that the person is no longer eligible for the deduction. A person that receives a deduction under this section in a particular year and that remains eligible for the deduction in the following year is not required to file an application for the deduction in the following year. A person that received a deduction under this section in a particular year and that becomes ineligible for the deduction in the following year shall notify the auditor of the county in which the property is located of the ineligibility in the year in which the person becomes ineligible. However, a deduction under this section does not terminate following the removal of less
than all the joint owners of property or buyers of property under
a contract described in subsection (a), if at least one (1) of the
remaining owners or buyers continues to qualify for the deduction
under this section.
SOURCE: ; (11)IN1095.1.2. -->
SECTION 2. An emergency is declared for this act.
