(A) Purpose. Pursuant to I.C. 6-1.1-12-42(c), a deduction is hereby authorized, and created, to apply to the assessed value of inventory located in the county. The deduction shall be equal to 100% of the assessed value of inventory located in the county for the appropriate year of assessment.
(B) Applicability. The deduction set forth above shall apply to inventory assessed beginning in year 2004 and each year thereafter.
(C) Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ASSESSED VALUE OF INVENTORY. The assessed value determined after the application of any deductions or adjustments that apply by statute or rule to the assessment of inventory, other than the deduction created in division (A) above, as per I.C. 6-1.1-12-42(a).
INVENTORY. The meaning set forth in I.C. 6-1.1-1-8.4.
(Council Ord. 2003-05, passed 12-30-2003)