IC 6-1.1-10.3-7 — Repeal or amendment of exemption ordinance

Bills citing this section

• HB 12102026Signed into law

  Department of local government finance.

• SB 2382026In committee

  Property and local income taxes.

Section text

Sec. 7. A local income tax council may repeal or amend an exemption ordinance. However, if a local income tax council repeals or amends an exemption ordinance, any new personal property that was exempt under the exemption ordinance on the date the new personal property was placed into service by a taxpayer remains exempt from property taxation, regardless of whether or not the ownership of the new personal property changes after the date the exemption ordinance is amended or repealed.

As added by P.L.80-2014, SEC.2. Amended by P.L.197-2016, SEC.11.

Source: official publisher (2026 edition)