State
Indiana
Year
2021
Does State Classify
No
Different Ratios
No
Different Rates
No
Local Option
No
Special Exemptions
If the total acquisition cost of business personal property in one county is under $40,000, the taxpayer is exempt.
Number of Classes
0
Record ID
IN001_CL21
Footnotes
Small businesses, with business personal property less than $40,000 per county, are exempt from the tax on personal property.
The standard of assessment is 100% (full) of true tax value.
Sources
Ind. Code §6-1.1-1-3
Ind. Code §6-1.1-1-3 -7.2 ; (in effect for 2021)
Ind. Code §6-1.1-1-3 -7.2 ; (in effect for 2021)