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2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 12.3. Intrastate Aircraft Deduction
6-1.1-12.3-14. Amount of deduction; ground time
Universal Citation: IN Code § 6-1.1-12.3-14 (2018)
IC 6-1.1-12.3-14 Amount of deduction; ground time
Sec. 14. The deduction applies to ad valorem property taxes calculated using aircraft ground times. The amount of a deduction available under section 12 or 13 of this chapter is equal to the product of:
(1) one hundred percent (100%) of the assessed value of the abatement property; multiplied by
(2) with respect to the ground time determined for purposes of calculating ad valorem property taxes for the aircraft, the quotient of:
(A) the ground time that immediately precedes a flight to an Indiana destination; divided by
(B) the total ground time.
As added by P.L.224-2003, SEC.279.
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