Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5

Affected: IC 6-1.1-31.5

Sec. 2. Tax and billing software must be able to do the following:

1. (1) Identify the following:

   1. (A) The type of all exemptions contained in the Indiana Code.
   2. (B) The type of property tax exemption.

2. (2) Designate assessed value as full or partially exempt as follows:

   1. (A) Percentage of land assessed value to be exempt.
   2. (B) Percentage of improvements assessed value to be exempt.
3. This designation of exempt percentages shall include information on which portion of the exemption applies to the 1%, 2%, or 3% property tax caps.
4. (3) Calculate each exemption according to specifications provided in the Indiana Code and by the department.

(Department of Local Government Finance; 50 IAC 26-7-2; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR- 050100165FRA; readopted filed Oct 4, 2024, 4:04 p.m.: 20241030-IR-050230833RFA)