Sec. 25. (a) This section applies only to an individual who in 2008 paid property taxes that:

(1) were imposed on the individual’s principal place of residence for the March 1, 2006, assessment date or the January 15, 2007, assessment date;

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Terms Used In Indiana Code 6-3-2-25

  • adjusted gross income: shall mean the following:

         (a) In the case of all individuals, "adjusted gross income" (as defined in Section 62 of the Internal Revenue Code), modified as follows:

    Indiana Code 6-3-1-3.5

  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) are due after December 31, 2007; and

(3) are paid on or before the due date for the property taxes.

     (b) As used in this section, “adjusted gross income” has the meaning set forth in IC 6-3-1-3.5.

     (c) An individual described in subsection (a) is entitled to a deduction from the individual’s adjusted gross income for a taxable year beginning after December 31, 2007, and before January 1, 2009, in an amount equal to the amount determined in the following STEPS:

STEP ONE: Determine the lesser of:

(A) two thousand five hundred dollars ($2,500); or

(B) the total amount of property taxes imposed on the individual’s principal place of residence for the March 1, 2006, assessment date or the January 15, 2007, assessment date and paid in 2007 or 2008.

STEP TWO: Determine the greater of zero (0) or the result of:

(A) the STEP ONE result; minus

(B) the total amount of property taxes that:

(i) were imposed on the individual’s principal place of residence for the March 1, 2006, assessment date or the January 15, 2007, assessment date;

(ii) were paid in 2007; and

(iii) were deducted from the individual’s adjusted gross income under IC 6-3-1-3.5(a)(13) by the individual on the individual’s state income tax return for a taxable year beginning before January 1, 2008.

     (d) The deduction under this section is in addition to any deduction that an individual is otherwise entitled to claim under IC 6-3-1-3.5(a)(13). However, an individual may not deduct under IC 6-3-1-3.5(a)(13) any property taxes deducted under this section.

As added by P.L.220-2011, SEC.139. Amended by P.L.6-2012, SEC.50; P.L.250-2015, SEC.25.

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