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Senate Bill 0019


Senate Bill 0019

ARCHIVE (2012)

Latest Information

 

DIGEST OF SB 19 (Updated March 9, 2012 12:50 pm - DI 73)


Property taxes. Requires the county assessor of each county before July 1, 2013, and before July 1 of every fourth year thereafter to prepare and submit to the department of local government finance (DLGF) a reassessment plan for the county. Specifies that the reassessment plan is subject to approval by the DLGF. Requires the DLGF to complete its review and approval of the reassessment plan before March 1 of the year following the year in which the reassessment plan is submitted by the county. Provides that subject to review and approval by the DLGF, the county assessor may modify a reassessment plan. Provides that the reassessment plan must divide all parcels of real property in the county into different groups of parcels. Requires that each group of parcels must contain at least 25% of the parcels within each class of real property in the county. Requires the assessor to submit land values to the county property tax assessment board of appeals by the dates specified in the county's reassessment plan. Requires the reassessment of the first group of parcels under a county's reassessment plan to begin July 1, 2014, and be completed on or before March 1, 2015. Specifies procedures for taxpayers to petition the DLGF for reassessment of parcels in a group and a schedule for completion of reassessment of parcels in a group. Provides that the notice of assessment that must be sent to taxpayers by assessing officials is in addition to any required notice of assessment included in a property tax statement. Specifies that the assessing official may provide the notice by mail or by using electronic mail that includes a secure Internet link to the information in the notice. Specifies that the soil productivity factors used for March 1, 2011, shall be used for the March 1, 2012, assessment date, instead of the new values determined by the DLGF for March 1, 2012. Specifies that any required provisional statement shall be based on the latest assessed values certified by the DLGF, as adjusted under the procedures specified by the DLGF. Specifies procedures for resolving multiyear delays in the issuance of tax bills for counties that are at least three years behind in issuing tax bills. Provides that these provisions expire December 31, 2016. Provides that the county executive of a covered county may employ one or more special masters to carry out substantially all of the duties of: (1) the county auditor; (2) the county treasurer; or (3) the county assessor; or any combination of these offices, as is necessary to issue property tax bills in each year that the county is a covered county. Specifies that local income taxes withheld to pay state expenses incurred to issue expedited tax bills in these counties reduces only the share of local income taxes that would be distributable to the county unit of government. Specifies that money must be set aside to reimburse eligible taxing units for interest costs on the schedule specified by the Indiana bond bank. Indicates that some or all of the required set aside is waived if certain are met. Requires that the extension of time to file for credits or deductions related to reconciliation issued in a covered county for a past tax year must be explained in the tax bill. Provides that the extension is the later of July 1 in the year the county becomes a covered county or 45 days after the reconciliation bill is issued. Permits the current owner of property to file the deduction or credit application. Specifies additional reporting requirements for redevelopment commissions. Requires redevelopment commissions to submit copies of the required reports to the DLGF.
    Current Status:
     Law Enacted
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