Ind. Code § 6-1.1-12-33
Deduction for hydroelectric power device; limitations
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 33. (a) For purposes of this section "hydroelectric power device" means a device which is installed after December 31, 1981, and is designed to utilize the kinetic power of moving water to provide mechanical energy or to produce electricity.
Sec. 33. (a) For purposes of this section "hydroelectric power device" means a device which is installed after December 31, 1981, and is designed to utilize the kinetic power of moving water to provide mechanical energy or to produce electricity.
(b) The owner of real property, or a mobile home that is not assessed as real property, that is equipped with a hydroelectric power device is annually entitled to a property tax deduction. The amount of the deduction equals the remainder of:
(b) The owner of real property, or a mobile home that is not assessed as real property, that is equipped with a hydroelectric power device is annually entitled to a property tax deduction. The amount of the deduction equals the remainder of:
(1) the assessed value of the real property or mobile home with the hydroelectric power device; minus
(1) the assessed value of the real property or mobile home with the hydroelectric power device; minus
(2) the assessed value of the real property or mobile home without the hydroelectric power device.
(2) the assessed value of the real property or mobile home without the hydroelectric power device.
(c) The deduction provided by this section applies only if the property owner:
(c) The deduction provided by this section applies only if the property owner:
(1) owns the real property or mobile home; or
(1) owns the real property or mobile home; or
(2) is buying the real property or mobile home under contract;
(2) is buying the real property or mobile home under contract;
on the date the statement is filed under section 35.5 of this chapter.
on the date the statement is filed under section 35.5 of this chapter.
(d) This section applies only to property taxes imposed for an assessment date before January 1, 2025.
(e) This section expires January 1, 2027.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.