Sec. 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.
Structure Indiana Code
Chapter 46.2. Abatement Deduction for Vacant Buildings in an Entrepreneur and Enterprise District
6-1.1-46.2-2. "District Board"
6-1.1-46.2-3. "Eligible Vacant Building"
6-1.1-46.2-4. Application for Deduction; District Board; Statement of Benefits; Contents
6-1.1-46.2-5. Form; Application and Statement of Benefits; Public Record
6-1.1-46.2-8. Abatement Schedule; Duration
6-1.1-46.2-9. Amount of Deduction
6-1.1-46.2-10. Process to Claim Deduction; Compliance Information
6-1.1-46.2-12. Fee for Filing an Application; Standards for Granting a Deduction