Document Updates: Updated Indiana Property Tax Benefits Form 51781 (Cx14885)

On February 1, 2023, Commissioner Wesley R. Bennett of the Indiana Department of Local Government Finance announced the update of Indiana Property Tax Benefits Form 51781 (Cx14885).

The main changes are:

1. 1. Increase of the Homestead Standard Deduction (IN Code § 6-1.1-12-37) from $45,000 to $48,000;
   2. Removal of the Mortgage Deduction (IN Code § 6-1.1-12-1 & 2) row from the Deductions Table;
   3. Addition of the Fertilizer & Pesticide Storage Deduction (IN Code § 6-1.1-12-38) row in the Deductions Table; and
   4. Removal of the paragraph under the section entitled “Special note regarding members of the armed forces” concerning filing an application for missed deadlines (IN Code § 6-1.1-12-3 & 4).

Effective Date

These changes in Cx14885 – IN Property Tax Benefits will take effect on February 22, 2023. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.

LEG-785
DR-140016

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.