This is a legal form that was released by the Indiana Department of Local Government Finance - a government authority operating within Indiana. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is Form 322/RE?
A: Form 322/RE is the Application for Deduction From Assessed Valuation of Structures in Economic Revitalization Areas (ERA) in Indiana.
Q: What is the purpose of Form 322/RE?
A: The purpose of Form 322/RE is to apply for a deduction from the assessed valuation of structures located in economic revitalization areas in Indiana.
Q: Who is eligible to apply for this deduction?
A: Property owners or tenants who have a qualifying structure in an economic revitalization area in Indiana are eligible to apply for this deduction.
Q: What are economic revitalization areas?
A: Economic revitalization areas are designated areas where economic development is encouraged through tax incentives and other benefits.
Q: What is the deduction amount for qualifying structures?
A: The deduction amount for qualifying structures is up to 100% of the assessed valuation in the first year, gradually decreasing over a period of 10 years.
Q: Are there any additional requirements or conditions?
A: Yes, there are additional requirements and conditions that must be met, such as compliance with local ordinances and agreements with the appropriate redevelopment commission.
Q: Is there a deadline for submitting the application?
A: Yes, the application must be submitted on or before May 10th of the assessment year.
Q: Can the deduction be transferred to a new owner?
A: Yes, the deduction can be transferred to a new owner if the property is sold or transferred.
Form Details:
Download a fillable version of Form 322/RE (State Form 18379) by clicking the link below or browse more documents and templates provided by the Indiana Department of Local Government Finance.