The Indiana General Assembly made a change to the small business personal property tax exemption. Previously, small business accounts, as determined by a cost of $80,000 or less in one county, were required to file annually to obtain the exemption. Beginning in 2023, small businesses which previously filed for the exemption will no longer need to file a property tax return in order to obtain the exemption. Newly-eligible businesses will only need to file once in order to obtain the exemption. A rescission form must be filed if the business is no longer eligible for the exemption.
If you are unfamiliar with the Indiana property tax process or would like assistance navigating the changes, we can help!