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SECTION V -FOR AREAS NOT RESIDENTIALLY DISTRESSED <br /> PERCENTAGES AND AMOUNTS OF DEDUCTIONS <br />YEAR OF DEDUCTION /PERCENTAGE /AMOUNT OF DEDUCTION * YEAR OF DEDUCTION /PERCENTAGE / AMOUNT OF DEDUCTION <br />(1) For deductions allowed over a 1 year period: (8) For deductions allowed over a eight (8) year period: <br />1st pay 100% $ 1st pay 100% $ <br /> 2nd pay 88% $ <br />(2) For deductions allowed over a two (2) year period: 3rd pay 75% $ <br />1st pay <br />100% $ <br />4th pay 63% $ <br />2nd pay 50% $ 5th pay 50% $ <br /> 6th pay 38% $ <br />(3) For deductions allowed over a three (3 ) year period: 7th pay 25% $ <br />1st pay <br />100% $ <br />8th pay 13% $ <br />2nd pay 66% $ <br />(9) For deductions allowed over a nine (9) year period: <br />3rd pay 33% $ <br /> 1st pay 100% $ <br />(4) For deductions allowed over a four (4) year period: 2nd pay 88% $ <br />1st pay 100% $ 3rd pay 77% $ <br />2nd pay 75% $ 4th pay 66% $ <br />3rd pay 50% $ 5th pay 55% $ <br />4th pay 25% $ 6th pay 44% $ <br /> 7th pay 33% $ <br />(5) For deductions allowed over a five (5) year period: <br />8th pay 22% $ <br />1st pay 100% $ 9th pay 11 % $ <br />2nd pay 80% $ <br />(10) For deductions allowed over a ten (10) year period: <br />3rd pay 60% $ <br />4th pay 40% $ 1st pay 100% $ <br /> <br />5th pay <br />20% $ 0 <br />2nd pay 95 /o <br /> 3rd pay 80% $ <br />(6) For deductions allowed over a six (6) year period: 4th pay 65% $ <br />1st pay <br />100% $ <br />5th pay 50% $ <br />2nd pay <br />85% $ <br />6th pay 40% $ <br /> <br />3rd pay <br />66% $ 0 <br />7th pay 30 /o <br /> <br />4th pay <br />50% $ 0 <br />8th pay 20% <br />5th pay <br />34% $ <br />9th pay 10% $ <br />6th pay <br />17% $ <br />10th pay 5% $ <br />(7) For deductions allowed over a seven (7) year period: <br />1st pay 100% $ <br />2nd pay 85% $ <br /> 71% $ * If a general reassessment of real property occurs within the deduction <br />3rd pay the amount of the deduction shall be adjusted to reflect the percentage <br />period <br />4th pay 57% $ , <br />increase or decrease in assessed valuation. If an appeal of an assessment <br />5th pay 43% $ is approved that results in a reduction of the assessed value, the deduction <br />6th pay 29% $ amount shall be adjusted to reflect the percentage decrease that resulted <br />7th pay 14% $ from the appeal. (IC 6-1.1-12.1-4 (b)) <br />SECTION VI -FOR RESIDENTIALLY DISTRESSED AREAS (AS DEFINED BY/C 6-1.1-12.1-2b-d) <br /> AMOUNT OF DEDUCTION <br /> DEDUCTION IS THE LESSER OF: DEDUCTION IS ALLOWED FOR A FIVE (5) <br />H INCLUDES <br />YEAR PERIO <br />TYPE OF DWELLING [IC 6-1.1-12.1-4.1(b)] Y ARS: <br />^ One (1) family dwelling Assessed value (after rehabilitation or redevelopment} $ or $74,880 AV pay through pay <br />^ Two (2) family dwetting Assessed value (after rehabilitation or redevelopment) $ or $106,080 AV pay through pay <br />^ Three (3) unit multifamily dwelling Assessed value (after rehabilitation or redevelopment) $ or $156,000 AV pay through pay <br />^ Four (4) unit multifamily dwelling Assessed value (after rehabilitation or redevelopment) $ or $199,680 AV pay through pay <br />Assessed value limits for taxes due and payable prior to January 1, 2005 Were $36,000, $51,000, $75,000, and $96,000 for one to four family dwellings respectively. <br />SECTION VII -APPROVAL OF COUNTY AUDITOR (COMPLETE ONLYIFAPPROVED) <br />This application is approved in the amounts shown above. <br />Signature of County Auditor Date signed (month, day, year) <br />