(A) All of the businesses and industries located within the areas designated as urban development areas shall qualify for the deductions in real and personal property taxes provided in IC 6-1.1-12.1-1 through 6-1.1-12.1-6 as amended from time to time.
(B) A property owner who desires to obtain the deduction must file a certified deduction application, on forms prescribed by the State Board of Tax Commissioners, with the Auditor of DeKalb County. Except as otherwise provided in division (C) below, the application must be filed before May 10 of the year in which the addition to assessed valuation is made.
(C) If notice of the addition to assessed valuation or new assessment for any year is not given to the property owner before April 10 of that year, the application required by this section may be filed not later than 30 days after the date such a notice is mailed to the property owner at the address shown on the records of the township assessor.
(D) The application required by this section shall contain the following information.
(1) The name of the property owner.
(2) A description of the property for which a deduction is claimed in sufficient detail to afford identification.
(3) The assessed value of the improvements before rehabilitation.
(4) The increase in the assessed value of improvements resulting from the rehabilitation.
(5) The assessed value of the new structure in the case of redevelopment.
(6) The amount of the deduction claimed for the first year of the deduction.
(E) A deduction application filed under this section is applicable for the year in which the addition to assessed value or assessment of a new structure is made and in the immediate following nine years without any additional application being filed. However, property owners who had an area designated as an Urban Development Area pursuant to an application filed prior to January l, 1979, are only entitled to a deduction for a five-year period.
(F) On verification of the correctness of an application by the assessor of the township in which the property is located, the County Auditor shall make the deduction.
(G) There shall be no application fee charged for owner-occupied single-family projects.
(Ord. 1023, passed 11-15-82)