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The State of Indiana gives you a real estate property tax credit for the use of any alternative energy resources. On the surface this sounds great. Well we just finished having a Geothermal heating/colling system installed. Today I went to our county treasures office to apply for our alternative energy tax credit and found out how it works and just how wonderful this offer is.
After getting the news about this wonderful incentive, the clerk told us we are better not filling for it, as our taxes will be lower.
- You notify your county treasurer.
- They send an appraiser to evaluate your property.
- He/she generates 2 appraisals, one with your alternative energy system and another if you did not have the system
- Your taxes are now assessed at the new higher value of your property with your alternative energy system installed.
- Each year the system is operational you have to June 11th to file for a property tax credit.
- If you file for the tax credit (in time), your property is taxed at the lower rate as if you did not have the system installed.
- You have to refile with the county every year to recieve the tax credit.
After getting the news about this wonderful incentive, the clerk told us we are better not filling for it, as our taxes will be lower.
