Ind. Code § 6-1.1-12-34
Deduction for geothermal energy heating or cooling device; limitations
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 34. (a) For purposes of this section, "geothermal energy heating or cooling device" means a device that is installed after December 31, 1981, and is designed to utilize the natural heat from the earth to provide hot water, produce electricity, or generate heating or cooling.
Sec. 34. (a) For purposes of this section, "geothermal energy heating or cooling device" means a device that is installed after December 31, 1981, and is designed to utilize the natural heat from the earth to provide hot water, produce electricity, or generate heating or cooling.
(b) The owner of real property, or a mobile home that is not assessed as real property, that is equipped with a geothermal energy heating or cooling 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 geothermal heating or cooling device; minus (2) the assessed value of the real property or mobile home without the geothermal heating or cooling device.
(b) The owner of real property, or a mobile home that is not assessed as real property, that is equipped with a geothermal energy heating or cooling 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 geothermal heating or cooling device; minus (2) the assessed value of the real property or mobile home without the geothermal heating or cooling 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.