HB 1113 Summary

• Permits eligible applicants to receive a 100% property tax deduction against the assessed value of the structure and foundation of mortise and tenon barns.

• Defines eligible mortise and tenon barns as structures built before 1936 using heavy wooden timbers joined with wood-pegged mortise and tenon joinery that retain substantially the same size, design, and construction as the original.

• Allows property owners and qualified contract buyers (who pay property taxes) to apply for the deduction by filing a certified application with the county auditor the year before the deduction will first apply.

• Requires county assessors to verify applicant eligibility, and allows continued deductions in subsequent years without reapplication unless the applicant becomes ineligible.

• Becomes effective upon passage with an emergency declaration.