50 Ind. Admin. Code 4.2-4-9

Current through October 31, 2024

Section 50 IAC 4.2-4-9 - Minimum valuation

Authority: IC 6-1.1-31-1

Affected: IC 6-1.1-31

Sec. 9.

(a) Notwithstanding the foregoing provisions of this rule, the total valuation of a taxpayer's assessable depreciable personal property in a single taxing district cannot be less than thirty percent (30%) of the adjusted cost of all such property of the taxpayer.

(b) Exception. This limitation shall be applied prior to any special adjustment for abnormal obsolescence as provided in section 8 of this rule. The limitation does not apply to equipment not placed in service, special tooling, and permanently retired depreciable personal property.

50 IAC 4.2-4-9

Department of Local Government Finance; 50 IAC 4.2-4-9; filed Dec 7, 1988, 9:35 a.m.: 12 IR 845, eff Mar 1, 1989; reinstated by IC 6-1.1-3-22, eff Jul 1, 2003