January 30, 2013
SENATE BILL No. 152
_____
DIGEST OF SB 152
(Updated January 29, 2013 11:26 am - DI 73)
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.
January 30, 2013
First Regular Session 118th General Assembly (2013)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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SENATE BILL No. 152
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-1.1-4-4.3; (13)SB0152.1.1. -->
SECTION 1. IC 6-1.1-4-4.3 IS ADDED TO THE INDIANA CODE
AS A
NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2013]:
Sec. 4.3. (a) This section applies to real property for which
the gross assessed value of the real property was determined by the
property tax assessment board of appeals as a result of a notice for
review filed by the taxpayer. This section does not apply for an
assessment date if:
(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.