State Form 55706 Statement of Deduction of Assessed Valuation Attributed to Heritage Barn - Indiana

What Is State Form 55706?

This is a legal form that was released by the Indiana Department of Local Government Finance - a government authority operating within Indiana. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 55706?A: Form 55706 is the Statement of Deduction of Assessed Valuation Attributed to Heritage Barn in Indiana.

Q: What is a heritage barn?A: A heritage barn is a barn that is recognized for its historical, cultural, or architectural significance.

Q: Why do I need to fill out this form?A: You need to fill out this form if you own a heritage barn in Indiana and want to claim a deduction of assessed valuation.

Q: What is the purpose of the deduction of assessed valuation?A: The purpose of the deduction is to provide a tax benefit to owners of heritage barns.

Q: What information is required on Form 55706?A: Form 55706 requires information such as the property owner's name, address, and details about the heritage barn.

Q: Is there a deadline for submitting Form 55706?A: Yes, the deadline for submitting Form 55706 is determined by the county assessor's office.

Q: What happens after I submit Form 55706?A: After submitting Form 55706, the county assessor will review the information and determine the deduction of assessed valuation.

Q: Can I claim the deduction every year?A: Yes, you can claim the deduction of assessed valuation for your heritage barn every year as long as it meets the eligibility criteria.

Q: Are there any restrictions on the deduction?A: Yes, there are certain restrictions, such as the barn must be used for agricultural purposes and must be located within Indiana.