Introduced Senate Bill (S)

DIGEST

Property tax assessment. Provides, with limited exceptions, that: (1) the only factor permitted to be used in changing the assessed value of most real property from year to year is the annual adjustment factor; and (2) an assessing official may not change the real property's underlying parcel characteristics (including age, grade, or condition of the real property) until the real property has been reassessed under the county's reassessment plan, there is a change in an objective factor or feature relating to a property, or there is a need to correct an error. Provides a process that must be followed by Property tax assessment. Provides, with limited exceptions, that: (1) the only factor permitted to be used in changing the assessed value of most real property from year to year is the annual adjustment factor; and (2) an assessing official may not change the real property's underlying parcel characteristics (including age, grade, or condition of the real property) until the real property has been reassessed under the county's reassessment plan, there is a change in an objective factor or feature relating to a property, or there is a need to correct an error. Provides a process that must be followed by an assessing official who wishes to apply an exception. Provides that the department of local government finance (DLGF) may impose a penalty on an assessing official who fails to follow the process or when the county property tax assessment board of appeals (PTABOA) finds that a request to apply an exception is not supported by the facts or a legal opinion. Creates the DLGF assessment supervision fund to receive penalty revenue. Changes the standards for the crime for an assessing official or the DLGF who: (1) assesses any property at more or less than the proper assessed value to include intentionally or recklessly assessing; (2) fails to perform any of the duties under the general assessment provisions to include an intentional or reckless failure; and (3) violates any of the other general assessment provisions to include a knowing or intentional violation. Permits a property owner of record to appeal a property tax assessment at any time before July 1 of the year after the assessment date. Permits a taxpayer to name an attorney in fact who may take the place of the taxpayer under the property tax laws, including appeals. Requires an assessing official to schedule a preliminary conference within normal business hours and reschedule the conference to a time convenient to the taxpayer upon request. Requires evidence in a property tax appeal to be submitted at least 10 days before the PTABOA hearing. Requires an assessing official to show cause to the DLGF before a taxpayer may be required by the assessing official to post a bond or provide other security regarding a contested assessment. Allows a taxpayer alone to stipulate to an assessed value determined by an Indiana registered appraiser. Provides that the office of the assessing official and taxpayer each pay 50% of the appraisal costs. Specifies deadlines for the PTABOA to make decisions. Makes conforming changes. ... View more