Authority: IC 6-1.1-31-1

Affected: IC 6-1.1-3-7.2

Sec. 1. (a) The business personal property tax exemption under IC 6-1.1-3-7.2 applies to old and new personal property located in an applicable county.

(b) In order to be eligible for the business personal property tax exemption under IC 6-1.1-3-7.2, the total acquisition cost of all business personal property must be below forty thousand dollars ($40,000) by the assessment date.

(c) The business personal property exemption only applies to taxpayers with a countywide business personal property cost of less than forty thousand dollars ($40,000).

(Department of Local Government Finance; 50 IAC 4.2-17-1; filed Nov 2, 2020, 9:34 a.m.: 20201202-IR-050190636FRA; readopted filed Oct 21, 2025, 9:19 a.m.: 20251112-IR-050240632RFA)