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period of first assessment of the improvements or such maximum <br /> amount as allowed by Indiana law or as amended at the time. <br /> 5 . A property owner who desires to obtain the deduction <br /> from real property must file an Application on forms prescribed <br /> by the State Board of Tax Commissioners with the Auditor of <br /> Morgan County and shall be filed before May 10 of the year in <br /> which the addition to assessed valuation is made. An <br /> Application for deduction from the value of new manufacturing <br /> equipment shall be filed on forms approved by the State Board of <br /> Tax Commissioners with the County Auditor and the State Board of <br /> Tax Commissioners . <br /> a. If notice of the addition to assessed valuation or new <br /> assessment for any year is not given to the property <br /> owner before April 10 of that year, the Application <br /> may be filed not later than thirty (30) days after the <br /> date such notice is mailed to the property owner at <br /> the address shown on the records of the Township <br /> Assessor. <br /> b. The Application required by this Section shall contain <br /> the information required in Indiana Code 6-1. 1-12. 15 <br /> or 6-1 . 1-12 . 1-5 . 5 . <br /> c. A Deduction Application filed under this Section is <br /> applicable for the year in which the addition to <br /> assessed value or assessment of a new structure is <br /> made and in the succeeding nine (9) years in the event <br /> of real property or the succeeding nine (9) years in <br /> the event of new manufacturing equipment. <br /> d. A new Deduction Application is not required for <br /> succeeding years of the real estate assessment <br /> deduction, however, an annual Application must be <br /> filed with regard to a Deduction Application for new <br /> manufacturing equipment, pursuant to Indiana Code 6- <br /> 1 . 1-12 . 1-5 . 5 . <br />