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House Bill 1365

House Bill 1365

ARCHIVE (2009)

Latest Information

DIGEST OF HB1365 (Updated April 24, 2009 10:50 am - DI 84)

Tax assessment of land affected by flooding. Upon the filing of a petition in a calendar year by the owner of real property that: (1) is permanently flooded or rendered inaccessible by flooding; and (2) is not being used for agricultural purposes; requires adjustment of property taxes payable in the calendar year and reassessment of the property for future years in which the flooding continues. Applies the reassessment provision to flooding that occurs after March 1, 2008. Authorizes a refund if property taxes are paid based on the assessment that applied before the reassessment for flooding. Requires the county auditor and the county treasure to publish notice of the availability of a reassessment for flooding. Allows the county auditor to reduce the assessed value used to set property tax rates based on expected reassessments for flooding.
Current Status:
Law Enacted
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