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.
- 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.