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IN HB1212
Bill
Status
1/11/2016
Primary Sponsor
Wes Culver
Click for details
AI Summary
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Allows individuals age 65 or older to claim a standard homestead deduction while simultaneously allowing their eligible child to claim a separate deduction for a different dwelling on the same property.
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An "eligible child" includes a child of the individual, a child of the individual's current or former spouse, or a descendant of either.
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Both the senior individual and the eligible child must each qualify separate dwellings on the property as homesteads for the same assessment date to receive dual deductions.
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Effective January 1, 2017, and amends Indiana Code 6-1.1-12-37 regarding homestead property tax deductions.
Legislative Description
Standard deduction for homesteads. Provides that an individual and an eligible child are both entitled to a standard deduction from the assessed value of property for an assessment date if: (1) the individual is at least 65 years of age on the assessment date; (2) the individual qualifies a dwelling on the property as a homestead for the assessment date; and (3) the eligible child qualifies a separate dwelling on the property as a homestead for the assessment date.
Last Action
First reading: referred to Committee on Ways and Means
1/11/2016