Sec. 18. (a) A person that applies for an assessed valuation deduction shall submit a statement of benefits for the deduction to the designating body before the date specified in section 17 of this chapter.
(b) The statement of benefits must:
(1) describe the property that is the subject of the application;
(2) estimate the value of the property that is the subject of the application; and
(3) contain the information required for a statement of benefits described in section 6 of this chapter.