Whenever an individual who is a qualified individual on an assessment date for which property taxes were deferred:

1. (1) ceases to use the homestead as the individual's principal place of residence as provided in section 4(3) of this chapter;
2. (2) ceases to have a qualified interest in the homestead; or

3. (3) changes the individual's qualified interest in the homestead;

   or a surviving spouse becomes a qualified individual, a person responsible for paying the property taxes on the homestead shall notify the county auditor in the county where the homestead is located on the form and in the manner prescribed by the department of local government finance. The county auditor shall review the information filed under this section to determine whether a deferral termination event has occurred.

As added by P.L.68-2025, SEC.85.