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Enrolled Senate Bill (S)

Co-Authored by

DIGEST

Property tax issues. Provides that, following a petition for review contesting the assessed value of tangible property, a taxpayer and a township or county official may enter into an agreement in which both parties: (1) agree to waive a determination by the county property tax assessment board of appeals (PTABOA) and submit a dispute directly to the Indiana board of tax review; or (2) agree to stipulate to the assessed value of the tangible property as determined by an independent appraisal. Provides certain provisions that must be included in an agreement, including provisions for selecting an independent appraiser. Specifies that Property tax issues. Provides that, following a petition for review contesting the assessed value of tangible property, a taxpayer and a township or county official may enter into an agreement in which both parties: (1) agree to waive a determination by the county property tax assessment board of appeals (PTABOA) and submit a dispute directly to the Indiana board of tax review; or (2) agree to stipulate to the assessed value of the tangible property as determined by an independent appraisal. Provides certain provisions that must be included in an agreement, including provisions for selecting an independent appraiser. Specifies that a taxpayer and township or county official may still enter into a resolution of disputed issues following an informal meeting, notwithstanding the provisions that allow for an independent appraisal and stipulated determination. Requires a PTABOA, upon receipt of an agreement of the parties and an independent appraisal, to enter a stipulated determination of the assessed value of the tangible property in dispute equal to the value as determined by the independent appraisal. Provides that a taxpayer or a township or county official may seek review before the Indiana board of tax review of a stipulated determination entered by a PTABOA. Requires each PTABOA to prepare an annual report of the notices for review filed with the PTABOA in the preceding year. Requires the report to be submitted to the department of local government finance, the Indiana board of tax review, and the legislative services agency. Requires the Indiana judicial center to review the workload and backlog of cases in the Indiana tax court for calendar year 2016 and submit a report of the center's findings, analysis, and recommendations (if recommendations are made) to the legislative council before December 1, 2016. Makes conforming amendments. ... View more