Senate Bill 0522
DIGEST OF SB 522 (Updated February 26, 2013 4:22 pm - DI 84)
Property tax deadlines and procedures. Changes for property taxation purposes: (1) the date a reassessment of a group of parcels in a particular class of real property begins to May 1; (2) the assessment and valuation date for property to January 1; (3) the personal property tax return filing date to May 1; (4) the date after which changes on an amended property tax roll over as a credit to a subsequent year to April 1; (5) the exemption filing date to April 1; (6) the deduction application filing date to June 1 (if the application is required by law to be filed with the county auditor) and April 1 (if the property is a mobile home or the application is required by law to be filed with a public official other than the county auditor); (7) the date assessment records are transferred to the auditor to June 1; and (8) the property tax installment dates to May 20 and November 20. Requires that property tax statements must be sent at least 30 days before the first installment is due. Requires the department of local government finance to certify to each county the assessed values tentatively determined for public utilities by June 1. Changes dates for the delivery of certain reports to the department of local government finance. Organizes deduction application procedures in a new chapter of law. Provides that eligibility for a deduction or exemption is determined on the assessment date and subsequent changes in owners or the property do not affect eligibility. Allows a county fiscal body to adopt an ordinance to authorize a homestead to receive a standard deduction (and any other deduction or credit that is available to property that has a standard deduction) if the homestead becomes eligible for a standard deduction after a change in ownership. Requires the legislative council to provide for the introduction of legislation in the 2014 session of the general assembly to make conforming amendments to provisions of the law not included in this act.
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