Fillable State Form 46021 - Sales Disclosure Form (Page 10 of 13) in pdf

State Form 46021 - Sales Disclosure Form Page 10

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INDIANA SALES DISCLOSURE FORM INSTRUCTIONS

Page 7

TABLE 2 – Other Deductions NOT covered under the Sales Disclosure Form

Listed below are certain deductions and credits that are available to lower property taxes in Indiana. Taxpayers may claim these benefits by filing an application with the Auditor in the County where the property is

situated. The mortgage deduction application also may be filed with the Recorder in the County where the property is situated. The previous tax bill will facilitate filing, but it is not required.

Applications for deductions against real property must be filed during the year in which the deduction is sought to be effective for taxes payable in the following year. The filing deadline for deduction applications for

mobile homes and manufactured homes that are not assessed as real property is the twelve months before March 31, unless noted below.

The deduction will appear on the tax bill the year following the assessment date. For additional information on these and other benefits, please consult Indiana Code §§ 6‐1.1‐12 and 6‐1.1‐20.9.

Note: The Sales Disclosure Form is not an application for the Homestead, or any other relevant deductions, for an annually assessed mobile or manufactured home.

APPLICATION FORM AND

RESTRICTIONS WHEN

DEDUCTION

MAXIMUM AMOUNT

VERIFICATION (PROOF)

COMBINING WITH OTHER

(Indiana Code)

ELIGIBILITY REQUIREMENTS

REQUIRED

DEDUCTIONS**

1) Person must be resident of Indiana;

2) Person must own of be buying on contract the real property or mobile or manufactured

home not assessed as real property on the date the application is filed;

State Form 43709

The lesser of:

3) Property located in Indiana;

(1) $3,000;

Applications may be filed with

4) Person owes a debt secured by a mortgage or recorded contract on the real property or

(2) amount of

either the Auditor or Recorder in

mobile or manufactured home not assessed as real property, which provides that the

Mortgage

mortgage or contract

the County where the property is

contract buyer is to pay the property taxes;

None

indebtedness on

situated.

(61.1121)

5) With respect to real property, file during the year for which the person desires to

assessment date of

obtain the deduction, and with respect to mobile or manufactured homes not assessed

that year; or

Note: A new application must be

as real property, file during the twelve months before March 31 of each year for which

filed whenever a loan on real

(3) one half (1/2) of

the deduction is sought (if mailed the mailing must be postmarked on or before the last

estate is refinanced.

the total assessed

day for filing);

value.

6) Contract buyer must submit copy of memorandum of the recorded contract, containing

a legal description with the first statement filed under this deduction.

State Form 46021 - Sales Disclosure Form Page 10

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