Indiana House Bill 1422 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 14 2021 - 25% progression, died in committee
Action: 2021-01-14 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Property tax increase limits. Provides that for each calendar year beginning after December 31, 2021, an annual adjustment of the assessed value of certain real property must not exceed the lesser of: (1) an amount equal to the percentage change in the consumer price index for the prior calendar year; or (2) an amount equal to 3% over the assessed value of the real property for the prior tax year. Provides that the limitation does not apply if the assessment is based on substantial renovations or new improvements, a change of ownership, or uses that were not considered in the assessment for the prior tax year. Provides that the assessed value of substantial renovations or new improvements to a property as the result of a disaster may not increase the assessed value of the property, with certain restrictions. Provides that if a taxpayer presents an appraisal to the county property tax assessment board of appeals (county board) that is prepared by a certified appraiser in compliance with the Uniform Standards of Professional Appraisal Practice, the appraisal is presumed to be correct. Provides that if the county board disagrees with the taxpayer's appraisal, the county board may seek review of the appraisal by a third party independent certified appraiser.

Property tax increase limits.

Rep. Ben Smaltz [R]

Date	Chamber	Action
2021-01-14	House	First reading: referred to Committee on Ways and Means
2021-01-14	House	Authored by Representative Smaltz

Type	Source
Summary	https://iga.in.gov/legislative/2021/bills/house/1422/details
Text	http://iga.in.gov/static-documents/d/f/5/8/df5803ef/HB1422.01.INTR.pdf
Supplement	http://iga.in.gov/static-documents/0/b/4/8/0b48f6f1/HB1422.01.INTR.FN001.pdf