Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8-26

Sec. 11. (a) An adjustment for abnormal obsolescence, as defined in 50 IAC 5.1-11-1(3), may be permitted in accordance with 50 IAC 5.1-11-3.

(b) No adjustment will be allowed for normal obsolescence as defined in 50 IAC 5.1-11-1(2).

(c) The dollar amount of the adjustment for the depreciable personal property under this section may not exceed the tentative true tax value as computed in sections 7 and 8 of this rule for the specific unit or units of depreciable personal property on which the taxpayer claims the adjustment.

(Department of Local Government Finance; 50 IAC 5.1-6-11; filed Dec 15, 1993, 5:00 p.m.: 17 IR 962; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003; readopted filed Oct 21, 2025, 9:19 a.m.: 20251112-IR-050240632RFA)