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Senate Bill 0327


Senate Bill 0327

ARCHIVE (2005)

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DIGEST OF SB 327 (Updated April 28, 2005 11:57 pm - DI 44)


Taxation. Provides that special integrated steel mill equipment property tax valuation applies only if the mill produces steel in a blast furnace in Indiana. Delays the next general reassessment of real property by two years and requires general reassessments every five years thereafter. Delays until 2006 implementation of annual adjustments of real property tax assessments. Directs the department of local government finance (DLGF) to adjust its guidelines used to determine the annual adjustment for agricultural land. Amends the factors to be included in the annual adjustment rule of the DLGF. Sets an agricultural land base rate of $880 per acre for property tax assessments in 2005 and 2006. Allows assessors to employ professional appraisers to assist with annual adjustments. Requires the DLGF to: (1) review and certify annual adjustments; (2) establish local deadlines in the determination of annual adjustments; (3) provide training to assessors and county auditors in the verification of sales; (4) approve a determination by assessors to not employ a professional appraiser for a general reassessment; and (5) adopt rules for the establishment of a statewide uniform and common property tax management system. Allows the DLGF to take over local assessment, reassessment, or annual adjustment activities after giving at least 60 days notice if it determines that the activities are not being performed properly. Allows the county assessor and the township assessors in the county to vote to abolish the county land valuation commission. Requires payment for state conducted assessment or reassessment activities from the county property reassessment fund and establishes a schedule of levies for that fund. Provides that the DLGF does not prescribe computer specification standards for the certification of computer operating systems. Allows the filing of an assessment registration notice with the county assessor or the area plan commission. Renames the assessment training fund the assessment training and administration fund, extends for six years the $10 sales disclosure form filing fee, requires deposit of 40% of the revenue from the fee in that fund instead of the state general fund, and allows the Indiana board of tax review to use money in the fund to conduct appeal activities. Requires additional information on the sales disclosure form. Applies sales disclosure requirements to property exempt from property taxes. Adjusts requirements for notice by the DLGF to taxpayers objecting to local budgets and levies. Requires the DLGF to conduct its review of local government budgets by fund, except for budgets for school and library capital projects funds. Provides that the term of a member of the property tax assessment board of appeals is one year. Directs the department of state revenue to withhold state property tax replacement fund distributions to counties for various reasons. Allows a school corporation to repay a rainy day fund loan from the school corporation's debt service fund. Prohibits an appraiser or a technical advisor that contracts with a township or county from representing taxpayers in the county, but allows representation with respect to an issue of a taxpayer after the contract term if the appraiser or technical advisor was not directly involved with the issue of the taxpayer while under contract. Authorizes a refund of property taxes paid by an exempt sorority that meets certain criteria. Authorizes a nonprofit youth soccer organization to claim retroactive property tax exemptions and refunds for property taxes paid in 2003 and 2004. Authorizes certain religious institutions to claim missed property tax exemptions retroactively. Authorizes retroactive property tax exemption for certain nonprofit entities established for the purpose of retaining and preserving land and water for their natural characteristics. Establishes a procedure for resolution and appeal of property tax abatements.
    Current Status:
     Law Enacted
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