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Statement Of Benefits Real Estate Improvements 51767 - Indiana
| Statement Of Benefits Real Estate Improvements Form. This is a Indiana form and can be used in Department Of Local Government Finance Statewide . |
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STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENTS State Form 51767 (R4 / 2-13) 20____ PAY 20____ FORM SB-1 / Real Property PRIVACY NOTICE The cost and any specific individual's salary information is confidential; the balance of the filing is public record per IC 6-1.1-12.1-5.1(c) and (d). Prescribed by the Department of Local Government Finance This statement is being completed for real property that qualifies under the following Indiana Code (check one box): Redevelopment or rehabilitation of real estate improvements (IC 6-1.1-12.1-4) Residentially distressed area (IC 6-1.1-12.1-4.1) INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise, this statement must be submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction. "Projects" planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6-1.1-12.1 ) 2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation, BEFORE a deduction may be approved. 3. To obtain a deduction, a Form 322/RE must be filed with the County Auditor before May 10 in the year in which the addition to assessed valuation is made or not later than thirty (30) days after the assessment notice is mailed to the property owner if it was mailed after April 10. If the property owner misses the May 10 deadline in the initial year of occupation, he can apply between March 1 and May 10 of a subsequent year. 4. Property owners whose Statement of Benefits was approved after June 30, 1991, must attach a Form CF-1/Real Property annually to the application to show compliance with the Statement of Benefits. [IC 6-1.1-12.1-5.1(b) and IC 6-1.1-12.1-5.3(j)]. 5. The schedules established under IC 6-1.1-12.1-4(d) for rehabilitated property apply to any economic revitalization areas designated after June 30, 2000, unless an alternative deduction schedule is adopted by the designating body (IC 6-1.1-12.1-17). The schedules effective prior to July 1, 2000, shall continue to apply to economic revitalization areas designated before July 1, 2000. SECTION 1 Name of taxpayer TAXPAYER INFORMATION Address of taxpayer (number and street, city, state, and ZIP code) Name of contact person T elephone number E-mail address ( SECTION 2 Name of designating body ) Resolution number LOCATION AND DESCRIPTION OF PROPOSED PROJECT Location of property County DLGF taxing district number Description of real property improvements, redevelopment, or rehabilitation (use additional sheets if necessary) Estimated start date (month, day, year) Estimated completion date (month, day, year) SECTION 3 Current number Salaries ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Number retained Salaries Number additional Salaries SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT COST REAL ESTATE IMPROVEMENTS ASSESSED VALUE Current values Plus estimated values of proposed project Less values of any property being replaced Net estimated values upon completion of project SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted (pounds) ________________________ Other benefits Estimated hazardous waste converted (pounds) ___________________ SECTION 6 Signature of authorized representative TAXPAYER CERTIFICATION Title Date signed (month, day, year) I hereby certify that the representations in this statement are true. Page 1 of 2 American LegalNet, Inc. www.FormsWorkFlow.com FOR USE OF THE DESIGNATING BODY We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution, passed or to be passed under IC 6-1.1-12.1, provides for the following limitations: A. The designated area has been limited to a period of time not to exceed ____________ calendar years* (see below). The date this designation expires is _______________________________. B. The type of deduction that is allowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements 2. Residentially distressed areas Yes Yes No No C. The amount of the deduction applicable is limited to $ __________________. D. Other limitations or conditions (specify)__________________________________________________________________________ E. The deduction is allowed for ______________________________ years* (see below). F. Did the designating body adopt an alternative deduction schedule per IC 6-1.1-12.1-17? If yes, attach a copy of the alternative deduction schedule to this form. Yes No We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benefits is sufficient to justify the deduction described above. Approved (signature and title of authorized member of designating body) Telephone number Date signed (month, day, year) ( Attested by (signature and title of attester) ) Designated body * If the designating body limits the time period during which an area is an economic revitalization area, it does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4. A. For residentially distressed areas, the deduction period may not exceed five (5) years. B. For redevelopment and rehabilitation or real estate improvements: 1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years. 2. If the Economic Revitalization Area was designated after June 30, 2000, and is not in a residentially distressed area, the deduction period may not exceed ten (10) years. Page 2 of 2 American LegalNet, Inc. www.FormsWorkFlow.com
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