Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Qualifying applicants are entitled to receive a $24,960 deduction from assessed value.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for relief. This can include mobile homes or manufactured homes that are not assessed as real property.
Description of Eligibility Criteria
A qualifying applicant must have served in the United States military or naval forces during a war, and have a service connected disability of 10%. This is evidenced by a pension certificate, an award of compensation, or a disability compensation check issued by the federal or Indiana Department of Veterans Affairs. The applicant must have been honorably discharged. Applicants must own the real property. The surviving spouse of an individual may receive the deduction provided by this section if the individual would qualify for the deduction if the individual were alive.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Description of State Funding for Tax Loss
The statute is silent on whether or not the state reimburses the local government for the property tax loss.