State Form 18379 - Application For Deduction From Assessed Valuation Of Structures In Economic Revitalization Areas Page 2

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SECTION V - FOR AREAS NOT RESIDENTIALLY DISTRESSED
PERCENTAGES AND AMOUNTS OF DEDUCTIONS
YEAR OF DEDUCTION / PERCENTAGE / AMOUNT OF DEDUCTION
YEAR OF DEDUCTION / PERCENTAGE / AMOUNT OF DEDUCTION
(1) For deductions allowed over a 1 year period:
(8) For deductions allowed over a eight (8) year period:
1st
pay
100% $
1st
pay
100% $
2nd
pay
88%
$
(2) For deductions allowed over a two (2) year period:
3rd
pay
75%
$
1st
pay
100% $
4th
pay
63%
$
2nd
pay
50%
$
5th
pay
50%
$
6th
pay
38%
$
(3) For deductions allowed over a three (3) year period:
7th
pay
25%
$
1st
pay
100% $
8th
pay
13%
$
2nd
pay
66%
$
(9) For deductions allowed over a nine (9) year period:
3rd
pay
33%
$
1st
pay
100% $
(4) For deductions allowed over a four (4) year period:
2nd
pay
88%
$
1st
pay
100% $
3rd
pay
77%
$
2nd
pay
75%
$
4th
pay
66%
$
3rd
pay
50%
$
5th
pay
55%
$
4th
pay
25%
$
6th
pay
44%
$
7th
pay
33%
$
(5) For deductions allowed over a five (5) year period:
8th
pay
22%
$
1st
pay
100% $
9th
pay
11%
$
2nd
pay
80%
$
(10) For deductions allowed over a ten (10) year period:
3rd
pay
60%
$
4th
pay
40%
$
1st
pay
100% $
5th
pay
20%
$
2nd
pay
95%
$
3rd
pay
80%
$
(6) For deductions allowed over a six (6) year period:
4th
pay
65%
$
1st
pay
100% $
5th
pay
50%
$
2nd
pay
85%
$
6th
pay
40%
$
3rd
pay
66%
$
7th
pay
30%
$
4th
pay
50%
$
8th
pay
20%
$
5th
pay
34%
$
9th
pay
10%
$
6th
pay
17%
$
10th
pay
5%
$
(7) For deductions allowed over a seven (7) year period:
1st
pay
100% $
2nd
pay
85%
$
If a general reassessment of real property occurs within the deduction
3rd
pay
71%
$
period, the amount of the deduction shall be adjusted to reflect the percentage
4th
pay
57%
$
increase or decrease in assessed valuation. If an appeal of an assessment
5th
pay
43%
$
is approved that results in a reduction of the assessed value, the deduction
6th
pay
29%
$
amount shall be adjusted to reflect the percentage decrease that resulted
7th
pay
14%
$
from the appeal. (IC 6-1.1-12.1-4 (b))
SECTION VI - FOR RESIDENTIALLY DISTRESSED AREAS (AS DEFINED BY IC 6-1.1-12.1-2b-d)
AMOUNT OF DEDUCTION
DEDUCTION IS ALLOWED FOR A FIVE (5)
DEDUCTION IS THE LESSER OF:
TYPE OF DWELLING
YEAR PERIOD WHICH INCLUDES
(IC 6-1.1-12.1-4.16)
YEARS:
One (1) family dwelling
Assessed value (after rehabilitation or redevelopment) $___________ or $74,880 AV
_____ pay _____ through _____ pay _____
Two (2) family dwelling
Assessed value (after rehabilitation or redevelopment) $___________ or $106,080 AV
_____ pay _____ through _____ pay _____
Three (3) unit multifamily dwelling
Assessed value (after rehabilitation or redevelopment) $___________ or $156,000 AV
_____ pay _____ through _____ pay _____
Four (4) unit multifamily dwelling
Assessed value (after rehabilitation or redevelopment) $___________ or $199,680 AV
_____ pay _____ through _____ pay _____
Assessed value limits for taxes due and payable prior to January 1, 2005 were $36,000, $51,000, $75,000, and $96,000 for one to four family dwellings respectively.
SECTION VII - APPROVAL OF COUNTY AUDITOR (COMPLETE ONLY IF APPROVED)
This application is approved in the amounts shown above.
Signature of County Auditor
Date signed

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