- BZA: “Board of Zoning Appeals”
The Board of Zoning Appeals (BZA) is a five (5) person board enabled through state statute to grant variances from developmental standards, use variances, special exceptions, and administrative relief.
- CAFR: “Comprehensive Annual Financial Report”
A CAFR (Comprehensive Annual Financial Report) is government's complete accounting of "Net Worth".
- COIT: "County Option Income Tax"
County Option Income Tax is the term commonly used to refer to a local option income tax that is designed primarily to provide revenue to local civil units. It may also be used to provide some property tax relief.
- EZ: “Enterprise Zone”
An Enterprise Zone is a specific geographic area targeted for economic revitalizing. Enterprise Zones encourage economic growth and investment in distressed areas by offering tax advantages and incentives to businesses locating within the zone boundaries.
- FICA: “Federal Insurance Contributions Act”
Federal Insurance Contributions Act mandates that an employer withhold a set percentage of an employee’s salary each pay period. FICA also requires that the employer match the employee’s amount and contribute the money to a government account known as the Social Security Trust Fund. This fund provides retirement income, as well as disability insurance, Medicare, and benefits for survivors.
- FIT: ”Federal Income Tax”
A Federal income tax is a tax levied on the financial income of people, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax.
- IRS: “Internal Revenue Service”
The Internal Revenue Service (IRS) is the United States federal government agency that collects taxes and enforces the internal revenue laws. It is an agency within the U.S. Dept of the treasury responsible for interpretation and application of Federal tax law.
- PERF: “Public Employees’ Retirement Fund”
The Indiana Public Employees’ Retirement Fund (PERF) is among the largest 100 pension funds in the United States. The fund serves the needs of more than 220,000 public employees and retirees representing more than 1,200 employers including public universities, school corporations, municipalities and state agencies.
- TIF: “Tax Increment Financing”
Tax Increment Financing is a public financing method which has been used for redevelopment and community improvement projects in many countries including the United States for more than 50 years. With federal and state sources for redevelopment generally less available, TIF has become an often-used financing mechanism for municipalities.
- Commercial Equipment Abatement
- Applicant must have qualified according to the rules and regulations of the governing body
- A copy of the declaratory and confirmation resolution, 322/ERAPP, Copy of Form 103, list of equipment, SB-1, CF-1, and extension letter, if applicable, must be filed every year in which the deduction is to apply
- Applicants must be filed by May 15th or June 14th if an extension has been filed
- Commercial Structure Abatement
- Applicant must have qualified according to the rules and regulations of the governing body
- A copy of the declaratory and confirmation resolution, 322/ERA, SB-1, and CF-1 must be filed the first year deduction is to apply
- A CF-1 showing compliance must be filed every year for the life of the abatement
- Applicants must be filed by May 10th
- Deeds/Affidavits Information
- The Auditor's Office must review all documents of a transfer before being recorded
- A Deed or Affidavit must be notarized and have a Tax mailing address and valid legal description
- All Deeds must be accompanied by a sales disclosure (Information here http://www.in.gov/dlgf/8294.htm)
- Current fees are $5.00 per parcel transferred and $10.00 per sales disclosure
- Property Tax Deductions
The Deadline for Filing for Property Tax Deductions is the Last Business Day of the Year, Except for Geothermal, Solar, and Wind Turbines. THE DEADLINE FOR THOSE DEDUCTIONS IS DETERMINED BY THE ASSESSOR.
Mortgage Deduction: $3,000 Total Deduction, per taxpayer, from the Gross Assessed Value of the Property
- The taxpayer must be a resident of Indiana
- Mortgage must have a mortgage balance of at least $3,000 at the time of filing, and cannot be solely a line-of-credit
- The mortgage must be recorded in the Grant County Recorders Office
- Property owners must know the balance of the mortgage and the name of the financial institution which holds the mortgage.
- The property owner is responsible for re-filing for a mortgage deduction when refinancing or obtaining a new mortgage
- Homestead deduction is not affected by a mortgage refinance
Homestead Deduction: 60% deduction from the Gross Assessed Value, or $45,000.00 (whichever is less)
- The property owner is responsible for filing the Homestead deduction application
- Applicant must bring, in person or by duly recorded Power of Attorney, a valid driver's license or state ID and the last five digits of their social security number to the auditor's office.
65 and Over Deduction: Lesser of 1/2 of the Gross Assessed Value of Property, or $12,480
- Applicant must have been owner (or contract buyer) of the property for at least one year and must use the property as a primary residence (or reside in a nursing home or hospital)
- Property cannot be used as rental income property
- Owner must have turned 65 on or before December 31 of the year of the filing for the deduction
- All joint tenants or tenants in common of the property (except spouse) must reside in the property
- Most recent federal or state income tax returns for the applicant and all co-owners are required
- A valid Indiana driver's license or Indiana ID card is required
- Property Gross Assessed Value may not exceed $182,430.00 and the applicant's combined Adjusted Gross Income may not exceed $25,000
65 and Over "CIRCUIT BREAKER" Credit: Prevents property tax liability from increasing more than 2% over the previous year's tax liability
- Applicant qualifies, except for income imitation, in current and preceding calendar years for the homestead deduction
- Filing most recent tax return as single - maximum adjusted gross income (AGI) of $30,000
- Filing most recent tax return as joint - maximum AGI of $40,000
- Same age restrictions as Over 65 deduction
- Property Gross Assessed Value may not exceed $160,000
Blind/Disabled Deduction: $12,480.00 Deduction from the Gross Assessed Value of Property
- Applicant must bring proof of income, Federal or State income tax returns, Social Security award Certificate or a Doctor's Statement for proof of disability
- Applicant's income may not exceed $17,000
- Taxpayers must qualify for a Homestead deduction before or at the same time as a disability deduction
Disabled Veteran Deduction: Deduction amounts vary. Total assessment can not exceed $143,160.00
- Applicant must furnish the Auditor with an Abatement form from Veterans Affairs located in the County Building on the third floor
Geothermal/Solar/Wind Turbine Deduction: Check with the County Assessor for the filing deadline
- Applicant must file exemption and complete questionnaire
- The questionnaire and application must be brought back to the Auditor's Office for Certification
- The deduction is based on the Assessed value of the Unit itself Non-Tax
- Applicant must file on any new property not included in previous filings
- Applicants are not required to file every year unless the property has changed
- Tax Sale Information
The County Auditor shall maintain a list of all Property eligible for sale. Unless the Taxpayer pays to the County Treasurer all amounts due, the Delinquent Property will remain on list. For more information, see the Treasurer's Web site.
