Engrossed House Bill (S)

Authored by

Co-Authored by

DIGEST

Property tax matters. Provides that a political subdivision must upload a copy of a contract that the political subdivision enters into after June 30, 2016, to the Indiana transparency Internet web site if the total cost of the contract exceeds $50,000. Allows the department of local government finance (DLGF) to use estimated data to compute six year rolling averages for the purpose of determining the annual adjustments of assessed values between reassessments. Makes the statute specifying the assessed value of outdoor advertising signs permanent. Provides that certain outdoor signs shall be disregarded for the purpose of determining an assessment of Property tax matters. Provides that a political subdivision must upload a copy of a contract that the political subdivision enters into after June 30, 2016, to the Indiana transparency Internet web site if the total cost of the contract exceeds $50,000. Allows the department of local government finance (DLGF) to use estimated data to compute six year rolling averages for the purpose of determining the annual adjustments of assessed values between reassessments. Makes the statute specifying the assessed value of outdoor advertising signs permanent. Provides that certain outdoor signs shall be disregarded for the purpose of determining an assessment of the land on which the outdoor sign is located. Provides that a public utility that fails to timely file a statement concerning the property owned or used by the public utility on an assessment date shall remit the penalty to the department of state revenue. Defines the terms "installment loan" and "mortgage" for purposes of the mortgage deduction. Provides that, for purposes of claiming the mortgage deduction, the associated mortgage instrument that is recorded must include the terms of payment or other performance. Restates the conditions for when a taxpayer must reapply for various property tax deductions. Restates the requirement that a taxpayer file a certified statement with the county auditor when the taxpayer ceases to be eligible for the standard deduction for a property. Restates the provisions concerning the prohibition against dividing a controlled project in order to avoid the petition and remonstrance and referendum processes. Provides that both the executive of a political subdivision and a majority of the members of the fiscal body of a political subdivision may independently request technical assistance from the distressed unit appeal board in helping prevent the political subdivision from becoming a distressed political subdivision. Provides that a multiple county property tax assessment board of appeals shall submit to the DLGF, the Indiana board of tax review, and the legislative services agency separate reports for each county participating in the multiple county property tax assessment board of appeals. Authorizes, but does not require, the DLGF to adopt rules to limit the basis of payment for services provided by professionals who work on capital projects to a fee for service agreement. Provides that the DLGF may adopt a rule after June 30, 2016, and before September 1, 2017, that concerns or includes market segmentation and affects assessments for the January 1, 2018, assessment date. Provides that interest on a refund or credit owed to a taxpayer is computed until the date the county auditor determines the amount of the refund or credit. Provides that DLGF may not adopt a rule concerning the practice of a representative before a property tax assessment board or DLGF that restricts the ability of a certified public accountant to represent a client in a matter relating to the taxation of personal property or distributable property. Allows a county auditor, with the approval of the county treasurer, to waive, negotiate, or settle penalties that have accrued on delinquent property taxes. Eliminates the requirement in current law that the DLGF review a loan contract entered into by an airport authority. Provides that a conservancy district is not required to go through the budget review process unless the conservancy district imposes a property tax. Adds conditions that a school corporation must satisfy to increase its maximum transportation fund levy. Specifies an October 20 filing deadline for an appeal. Provides that a redevelopment commission's annual report to the unit that created the redevelopment commission must include both a list of parcels of real property and the depreciable personal property of designated taxpayers in the redevelopment area. Provides that a resolution by a provider unit to withdraw from a fire protection territory is effective on January 1 of the year following the year in which the resolution is adopted. Provides that if the provider unit of a fire protection territory withdraws, a majority of the remaining units must agree on which unit is to become the successor provider unit. Provides that the drainage board of a county may not impose interest on a drainage assessment for construction or reconstruction if the construction or reconstruction is financed through the issuance of bonds or a construction loan. Specifies accounting procedures for drainage assessment construction or reconstruction loans having a term of fewer than six years. Permits a school corporation located in Vanderburgh County to impose a property tax at a rate of up to $0.005 to provide money to a historical society for restoration and maintenance of Bosse Field. Allows certain nonprofit entities that failed to comply with the exemption filing deadlines to claim the property tax exemptions that the nonprofit entities were otherwise entitled to claim. Repeals the requirements that the budget agency publish by May 1 each year an estimate of the total amount of statewide distributions of local income tax revenue for: (1) the following two years, in an odd-numbered year; and (2) the following year, in an even-numbered year. ... View more