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APPLICATION FOR DEDUCTION FROM ASSESSED VALUATION OF STRUCTURES IN ECONOMIC REVITALIZATION AREAS (ERA)
State Form 18379 (R10 / 10-08)

20____ PAY 20____ FORM 322 / RE

Prescribed by the Department of Local Government Finance

INSTRUCTIONS: 1. This form is to be filed in person or by mail with the Auditor of the county in which the property is located before May 10 of the year in which addition to assessed valuation (or new assessment) is made, or not later than thirty (30) days after mailing date of notice of assessment (Form 11) if such notice is not given before April 10 of that year (IC 6-1.1-12.1-5). 2. Copy of Form 11 must be attached. 3. A property owner may not receive this deduction for the same property or improvements for which a deduction is obtained under either IC 6-1.1-12-18, IC 6-1.1-12-22 or IC 6-1.1-12-28.5 (IC 6-1.1-12.1-6). 4. A copy of the statement of benefits (Form SB-1 / Real Property) must be attached to this application. 5. The compliance with statement of benefits (Form CF-1 / Real Property) must be filed with this application and the designating body (IC 6-1.1-12.1-5.1). 6. A copy of the resolution must be attached to this application. 7. Please see IC 6-1.1-12.1 for further instructions. 8. Taxpayer completes Sections I, II and III below. 9. If property located in an economic revitalization area is also located in an allocation area as defined in IC 36-7-14-39 or IC 36-7-15.1-26, an application for the property tax deduction may not be approved unless the Commission that designated the allocation area adopts a resolution approving the application (IC 6-1.1-12.1-2(k)). 1 0 . Except for ERA's designated before December 31, 1987, a deduction for redevelopment or rehabilitation is not authorized for the following facilities (IC 6-1.1-12.1-3). j. Any facility, the primary purpose of which is (a) Retail food and a. Private or commercial golf course beverage service; (b) Automobile sales or service; or (c) other b. Country club retail; (unless the facility is located in an economic developmentc. Massage parlor target area established under IC 6-1.1-12.1-7). d. Tennis court k . Residential, unless the facility is a multi-family facility that e. Skating facility, including roller skating, skateboarding or ice skating contains at least 20% of the units available for use by low and moderate income individuals or unless the facility is located in an f. Racquet sport facility (including handball or racquet ball court) economic development target area established under IC 6-1.1-12.1-7, or g. Hot tub facility the area is designated as a residentially distressed area which h. Suntan facility is required to meet conditions as cited in IC 6-1.1-12.1-2 (c) (1 & 2). i. Racetrack l. Package liquor store [see IC 6-1.1-12.1 - 3(e)(12)] SECTION I - DESCRIPTION OF PROPERTY The owner hereby applies to the County Auditor for a deduction pursuant to IC 6-1.1-12.1-5 beginning with the assessment date March 1, 20 ____.
County Name of owner Property address (number and street, city, state, and ZIP code) Legal description from Form 11 Type of structure Governing body that approved ERA designation Date ERA designation approved (must be before March 1) Date of Form 11 (month, day, year) Use of structure Resolution number Township DLGF taxing district number Key number

SECTION II - VERIFICATION OF OWNER OR REPRESENTATIVE
Signature of owner or representative (I hereby certify that the representations on this application are true) Address (number and street, city, state, and ZIP code) Date signed (month, day, year)

SECTION III - STRUCTURES
A. Rehabilitation structure

AUDITOR'S USE

B. New structure

$ 2. Assessed valuation at 100% of TTV BEFORE rehabilitation $ $ 3. INCREASE in assessed valuation $ 4. Assessed valuation eligible for deduction $ 1. Assessed valuation $ 2. Assessed valuation eligible for deduction SECTION IV - VERIFICATION OF ASSESSING OFFICIAL
1. Assessed valuation AFTER rehabilitation

I verify that the above described structure was assessed and the owner was notified on _________________________________________ with the effective date of the assessment being March 1, 20 _______ and that the assessed valuations in Section III are correct.
Signature of Assessing Official Township Date (month, day, year)

CONTINUED ON THE REVERSE SIDE

SECTION V - FOR AREAS NOT RESIDENTIALLY DISTRESSED PERCENTAGES AND AMOUNTS OF DEDUCTIONS YEAR OF DEDUCTION / PERCENTAGE / AMOUNT OF DEDUCTION
(1) For deductions allowed over a 1 year period:

*

YEAR OF DEDUCTION / PERCENTAGE / AMOUNT OF DEDUCTION
(8) For deductions allowed over a eight (8) year period:

*

1st

pay

100% $

(2) For deductions allowed over a two (2) year period:

1st 2nd

pay pay

100% $ 50% $

(3) For deductions allowed over a three (3) year period:

1st 2nd 3rd 4th 5th 6th 7th 8th

pay pay pay pay pay pay pay pay

100% 88% 75% 63% 50% 38% 25% 13%

$ $ $ $ $ $ $ $

1st 2nd 3rd

pay pay pay

100% $ 66% 33% $ $

(9) For deductions allowed over a nine (9) year period:

(4) For deductions allowed over a four (4) year period:

1st 2nd 3rd 4th

pay pay pay pay

100% 75% 50% 25%

$ $ $ $

(5) For deductions allowed over a five (5) year period:

1st 2nd 3rd 4th 5th 6th 7th 8th 9th

pay pay pay pay pay pay pay pay pay

100% 88% 77% 66% 55% 44% 33% 22% 11%

$ $ $ $ $ $ $ $ $

1st 2nd 3rd 4th 5th

pay pay pay pay pay

100% 80% 60% 40% 20%

$ $ $ $ $

(10) For deductions allowed over a ten (10) year period:

(6) For deductions allowed over a six (6) year period:

1st 2nd 3rd 4th 5th 6th

pay pay pay pay pay pay

100% 85% 66% 50% 34% 17%

$ $ $ $ $ $

1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th

pay pay pay pay pay pay pay pay pay pay

100% 95% 80% 65% 50% 40% 30% 20% 10% 5%

$ $ $ $ $ $ $ $ $ $

(7) For deductions allowed over a seven (7) year period:

1st 2nd 3rd 4th 5th 6th 7th

pay pay pay pay pay pay pay

100% 85% 71% 57% 43% 29% 14%

$ $ $ $ $ $ $

within the deduction * If a general reassessment of real property occurs reflect the percentage period, the amount of the deduction shall be adjusted to

increase or decrease in assessed valuation. If an appeal of an assessment is approved that results in a reduction of the assessed value, the deduction amount shall be adjusted to reflect the percentage decrease that resulted from the appeal. (IC 6-1.1-12.1-4 (b))

SECTION VI - FOR RESIDENTIALLY DISTRESSED AREAS (AS DEFINED BY IC 6-1.1-12.1-2b-d) AMOUNT OF DEDUCTION TYPE OF DWELLING
One (1) family dwelling Two (2) family dwelling Three (3) unit multifamily dwelling Four (4) unit multifamily dwelling

DEDUCTION IS THE LESSER OF: [IC 6-1.1-12.1-4.1(b)]
Assessed value (after rehabilitation or redevelopment) $___________ or $74,880 AV Assessed value (after rehabilitation or redevelopment) $___________ or $106,080 AV Assessed value (after rehabilitation or redevelopment) $___________ or $156,000 AV Assessed value (after rehabilitation or redevelopment) $___________ or $199,680 AV

DEDUCTION IS ALLOWED FOR A FIVE (5) YEAR PERIOD WHICH INCLUDES YEARS: _____ pay _____ through _____ pay _____ _____ pay _____ through _____ pay _____ _____ pay _____ through _____ pay _____ _____ pay _____ through _____ pay _____

Assessed value limits for taxes due and payable prior to January 1, 2005 were $36,000, $51,000, $75,000, and $96,000 for one to four family dwellings respectively.

SECTION VII - APPROVAL OF COUNTY AUDITOR (COMPLETE ONLY IF APPROVED) This application is approved in the amounts shown above.
Signature of County Auditor Date signed (month, day, year)