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DIGEST OF INTRODUCED BILL
Reassessment extension. Extends the time for completing the next general reassessment by six months and changes the first year the new assessed values will be used as the basis for property taxes payable from 2002 to 2003. Changes the date for using 100% true tax value from March 1, 2001, to March 1, 2002. Provides a new schedule for completing the reassessment of parcels. Requires the state board of tax commissioners to submit to the property tax study committee every six months a written report informing the committee of the status of the general reassessment. Continues the property tax study committee through 2002.