S.C. 131 is exempt from personal property taxation.(b) The owner of personal property that wishes to obtain the exemption provided by this section must file an exemption claim along with the owner's annual personal property tax return. The claim must describe and state the assessed value of the personal property for which an exemption is claimed.(c) The township or county assessor shall:(1) review the exemption claim; and(2) allow or deny the exemption claim in whole or in part.The assessor's action is subject to all the provisions of this article pertaining to notice, review, or appeal of personal property assessments.(d) The township or county assessor shall reduce the assessed value of the owner's personal property for the year for which the exemption is claimed by the amount of exemption allowed.As added by P.L.257-2013, SEC.4.
Indiana Legal Code