Approval; requirement to enter into a deferral agreement; recording of deferral

Sec. 9. (a) If the applicant is qualified for a deferral, the county auditor shall: (1) approve the deferral in the lesser of: (A) the amount requested by the applicant, which may not be less than one hundred dollars ($100); or (B) the maximum amount, which is five hundred dollars ($500); (2) provide for the recording of the deferral in the county recorder's office specifying the amount of property tax deferred; and (3) notify the county treasurer and the department of local government finance of the amount deferred. (b) An applicant must enter into a tax deferral agreement with the county auditor for each year that homestead property taxes are deferred under this chapter. (c) The recording of a deferral in the county recorder's office shall constitute a lien on the homestead property. As added by P.L.68-2025, SEC.85.