Entitlement to deduction; eligible vacant building used for commercial or industrial purposes
Ind. Code § 6-1.1-46.2-7
in effectSec. 7. Except as otherwise provided in this chapter, if an application is approved by resolution of the district board and by resolution of the fiscal body of the municipality under section 6 of this chapter, the owner of the eligible vacant building is entitled to a deduction from the assessed value of the building if the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes. The property owner is entitled to the deduction:
(1) for the first year in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes; and
(2) for subsequent years determined in the abatement schedule under section 8 of this chapter in which the property owner or a tenant of the property owner occupies the eligible vacant building and uses it for commercial or industrial purposes.
As added by P.L.238-2017, SEC.18.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/6Fetched: 10/17/2026