STATE OF INDIANA
STATE BOARD OF TAX COMMISSIONERS
QUICK REFERENCE CHART OF
PROPERTY TAX DEDUCTIONS
2001 PAY 2002 FILING YEAR
| Deduction Type | Max Amount | Value Limit | Income Limit | Prop. Applied To | Ind. Res? | Reside on Prop | Age Req? | Own By | Surviv Spouse File? | Period of Military Service | Combine With | Forms Req To Verify |
| 1. Mortgage | $3,000 | None | None | Real - Yes Mob. - No Pers. - No |
YES | NO | NO | March 1, 2001 | N/A | N/A | All | None, Previous Tax Bill will Facilitate Filing. |
| 2. Homestead Credit | 10% 01 Pay 02 | None | None | Real - Yes Mob. - No Pers. - No |
YES | YES | NO | March 1, 2001 | N/A | N/A | All | None, Previous Tax Bill will Facilitate Filing. |
| 3. Standard Deduction | $6,000 | None | None | Real - Yes Mob. - No Pers. - No |
YES | YES | NO | March 1, 2001 | N/A | N/A | All | None, Previous Tax Bill will Facilitate Filing. |
| 4. Over 65 | $6,000 | $69,000 Real or Mobile Home | $25,000 Adjusted Gross Income | Real - Yes Mob. - Yes Pers. - No |
YES | YES² | Age 65 By Dec 31, 1995 | One year Prior to March 1, 2001 | YES | N/A | Items #1, #2, and #3 Only | 1040 Form for 1990 for Applicant & Spouse or Applicat & All Co-Owners |
| 5. Blind | $6,000 | None | $17,000 Taxable Income | Real - Yes Mob. - No Pers. - No |
YES | YES² | None | March 1, 2001 | NO | N/A | All Except #4 | Proof of Blindness |
| 6. Disabled | $6,000 | None | $17,000 Taxable Income | Real - Yes Mob. - No Pers. - No |
YES | YES² | None | March 1, 2001 | NO | N/A | All Except #4 | Proof of Disability |
| 7. Vet Tot. Disabilityı | $6,000 | $54,000 Real & Personal Combined | None | Real - Yes Mob. - Yes Pers. - Yes |
NO | NO | None | March 1, 2001 | YES | Anytime 90 Days or More, Honorable Discharge | All Except #4 | VA Form 20-5455 Code 1 in Item #15 or Pension Certificate or Award of Compensation or Letter of Disability |
| 8. Vet Part Disability (Service Connected)ı | $12,000 | None | None | Real - Yes Mob. - Yes Pers. - Yes |
NO | NO | None | March 1, 2001 | YES | During Any War, Honorable Discharge | All Except #4 & #10 | VA Form 20-5455 Code 2 in Item #15 or Pension Certificate or Award of Compensation or Letter of Disability |
| 9. Veteran World War Iı | $9,000 | $78,000 Real Only | None | Real - Yes Mob. - No Pers. - No |
YES | YES² | None | One Year Prior to March 1, 2001 | See Item #10 | Prior to Nov 12, 1918 | All Except #4 | None |
| 10. Spouse - Veteran World War Iı | $9,000 | None | None | Real - Yes Mob. - Yes Pers. - Yes |
NO | NO | None | March 1, 2001 | Prior to Nov 12, 1918 | Items #1, #2, #3, #5, #6, or #7 | Discharge Papers |
ıCan be applied as Excise Tax Credit on either the Motor
Vehicle Excise Tax (IC 6-6-5-6) or the Aircraft License Excise Tax (IC.
6-6-6.5-13), calculated at $2 for cars and $7 for aircrafts for each $100 of UNUSED
Deduction. This amount is applicable for 2001 pay 2002 excise credit
²Applicant must reside on the property or be in a nursing home or hospital.