Bill Text: IN SB0152 | 2013 | Regular Session | Amended
Bill Title: Property tax assessments.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Passed) 2013-05-13 - Public Law 235 [SB0152 Detail]
Download: Indiana-2013-SB0152-Amended.html
Citations Affected: IC 6-1.1.
Synopsis: Property tax assessments. Provides that in the case of real
property that is the subject of a property tax appeal in which the gross
assessed value is determined by the property tax assessment board of
appeals (PTABOA), if the assessed value is increased above the
amount determined by the PTABOA the assessor has the burden of
proving that the assessment is correct. Specifies that this provision does
not apply to real property that was valued using the income
capitalization approach in an appeal. Specifies, however, that the
assessed value is to be adjusted for the annual adjustment factor, the
general reassessment of real property, and any physical change to the
property. Provides that the assessed value may be changed if the
ownership of the property changes.
Effective: July 1, 2013.
January 7, 2013, read first time and referred to Committee on Tax and Fiscal Policy.
January 29, 2013, amended, reported favorably _ Do Pass.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(1) the real property was valued using the income capitalization approach in the appeal; or
(2) the entire ownership interest or any part of the ownership interest of the real property changes on or before that assessment date and after the immediately preceding assessment date.
(b) This section applies to assessment dates after 2013.
(c) If the gross assessed value of real property for an assessment date that follows the latest assessment date that was the subject of an appeal described in subsection (a) is increased above the gross
assessed value of the real property for the latest assessment date
covered by the appeal, the county assessor or township assessor (if
any) making the assessment has the burden of proving that the
assessment is correct. However, an adjustment to the gross
assessed value of the real property for an assessment date shall be
made to reflect:
(1) the annual adjustment factor under section 4.5 of this
chapter; and
(2) any adjustment attributable to:
(A) the general reassessment of real property under this
chapter; or
(B) the recognition of any physical change to the real
property.
