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Senate Bill 0355


Senate Bill 0355

ARCHIVE (2006)

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DIGEST OF SB 355 (Updated March 13, 2006 9:00 pm - DI 52)


Property taxes. With the approval of the county fiscal body, allows a civil taxing unit or school corporation to file a property tax levy appeal to offset a levy shortfall in the preceding year before March 1 of the year the tax is due. For property taxes payable in 2006, establishes a deadline of April 1 instead of March 1. If such an appeal is filed, allows the county treasurer to either: (1) send tax statements on schedule and send later reconciling statements; or (2) delay tax statements up to 60 days pending resolution of the appeal. Allows a county council to petition the department of local government finance to establish an installment plan for property tax payments (without requiring the petition to be approved by the county treasurer and county auditor). Reduces the penalty for a late installment of property taxes from 10% to 5%, if (1) the late installment is completely paid on or before the date 30 days after the installment due date; and (2) the taxpayer is not also liable for delinquent property taxes first due and payable in a previous year for the same parcel. Permits in 2006 an additional deduction against adjusted gross income for the payment of delayed property taxes in taxable year 2005. Provides for a waiver by the county treasurer of a property tax late payment penalty if the taxpayer or an immediate family member of the taxpayer died in the week preceding the installment due date. Allows an appeal of a penalty waiver denial.
    Current Status:
     Law Enacted
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