Senate Bill (H)

Sponsored by

DIGEST

Property tax assessment. Provides, with limited exceptions, that: (1) the only factor permitted to be used in changing the assessed value of most real property from year to year is the annual adjustment factor; and (2) an assessing official may not change the real property's underlying parcel characteristics (including age, grade, or condition of the real property) until the real property has been reassessed under the county's reassessment plan, there is a change in an objective factor or feature relating to a property, or there is a need to correct an error. Provides a process that must be followed by Property tax assessment. Provides, with limited exceptions, that: (1) the only factor permitted to be used in changing the assessed value of most real property from year to year is the annual adjustment factor; and (2) an assessing official may not change the real property's underlying parcel characteristics (including age, grade, or condition of the real property) until the real property has been reassessed under the county's reassessment plan, there is a change in an objective factor or feature relating to a property, or there is a need to correct an error. Provides a process that must be followed by an assessing official who wishes to apply an exception. Permits a taxpayer to name an attorney in fact who may take the place of the taxpayer under the property tax laws, including appeals. Allows a taxpayer alone to stipulate to an assessed value determined by an Indiana registered appraiser. Provides that the office of the assessing official and taxpayer each pay 50% of the appraisal costs. Makes conforming changes. ... View more