Bill Text: IN HB1194 | 2012 | Regular Session | Introduced
Bill Title: Assessment of outdoor advertising signs.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-01-09 - First reading: referred to Committee on Ways and Means [HB1194 Detail]
Download: Indiana-2012-HB1194-Introduced.html
Introduced Version
HOUSE BILL No. 1194
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DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-1.1-3-24.
Synopsis: Assessment of outdoor advertising signs. Establishes a
schedule for the determination of the true tax value of outdoor
advertising signs. Requires the department of local government finance
to revise the schedule of values every five years.
Effective: March 1, 2010 (retroactive).
Smith M
January 9, 2012, read first time and referred to Committee on Ways and Means.
Introduced
Second Regular Session 117th General Assembly (2012)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
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Conflict reconciliation: Text in a statute in this style type or
HOUSE BILL No. 1194
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-1.1-3-24; (12)IN1194.1.1. -->
SECTION 1. IC 6-1.1-3-24 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
MARCH 1, 2010 (RETROACTIVE)]: Sec. 24. (a) This section applies
to the determination of the true tax value:
(1) of outdoor advertising signs that are located on real property that is not owned by the owner of the sign; and
(2) for assessment dates after February 28, 2010.
(b) This subsection applies to assessment dates before March 2, 2014. Outdoor advertising signs shall be assessed on a unit value per structure basis. The following values shall be used as the tax basis for the determination of the true tax value of outdoor advertising signs without any depreciation or other adjustments for Indiana property tax purposes, except abnormal obsolescence:
Description and Type of Device Unit Value Per Structure
48' and Over, Illuminated $3,750
48' and Over, Non-Illuminated $3,000
26' and Less than 48', Illuminated $3,000
26' and Less Than 48', Non-Illuminated $2,475
Less Than 26', Illuminated $2,400
Less Than 26', Non-Illuminated $1,950
Description and Type of Device Unit Value Per Structure
48' and Over, Illuminated $1,875
48' and Over, Non-Illuminated $1,125
26' and Less Than 48', Illuminated $1,500
26' and Less Than 48', Non-Illuminated $ 975
Less Than 26', Illuminated $1,200
Less Than 26', Non-Illuminated $ 750
(c) The department of local government finance shall revise the schedule of true tax values specified in subsection (b) once every five (5) years to reflect changes in the value of outdoor advertising signs occurring after March 1, 2010. The initial revision of the schedule under this subsection applies to the March 1, 2015, assessment date.
(d) A rule adopted by the department of local government finance is void to the extent that the rule conflicts with this section.
(e) This subsection applies to the March 1, 2010, and March 1, 2011, assessment dates. Notwithstanding IC 6-1.1-3-7.5, a person that:
(1) is the owner of an outdoor advertising sign on an assessment date to which this subsection applies; and
(2) timely filed a personal property tax return or an amended personal property tax return for the person's outdoor advertising signs for an assessment date to which this subsection applies;
may file an amended personal property tax return to bring the person's personal property tax return into conformity with this section before October 15, 2012. The only amendments authorized by this subsection are amendments related to the determination of the true tax value of outdoor advertising signs. If the person has overpaid property taxes based on a valuation of outdoor advertising signs that is not consistent with this section, the person may, based on the person's amended personal property tax return, file a claim for the excess under IC 6-1.1-26.
(1) of outdoor advertising signs that are located on real property that is not owned by the owner of the sign; and
(2) for assessment dates after February 28, 2010.
(b) This subsection applies to assessment dates before March 2, 2014. Outdoor advertising signs shall be assessed on a unit value per structure basis. The following values shall be used as the tax basis for the determination of the true tax value of outdoor advertising signs without any depreciation or other adjustments for Indiana property tax purposes, except abnormal obsolescence:
Single Pole Structure
Description and Type of Device Unit Value Per Structure
48' and Over, Illuminated $3,750
48' and Over, Non-Illuminated $3,000
26' and Less than 48', Illuminated $3,000
26' and Less Than 48', Non-Illuminated $2,475
Less Than 26', Illuminated $2,400
Less Than 26', Non-Illuminated $1,950
Other Billboards
Description and Type of Device Unit Value Per Structure
48' and Over, Illuminated $1,875
48' and Over, Non-Illuminated $1,125
26' and Less Than 48', Illuminated $1,500
26' and Less Than 48', Non-Illuminated $ 975
Less Than 26', Illuminated $1,200
Less Than 26', Non-Illuminated $ 750
(c) The department of local government finance shall revise the schedule of true tax values specified in subsection (b) once every five (5) years to reflect changes in the value of outdoor advertising signs occurring after March 1, 2010. The initial revision of the schedule under this subsection applies to the March 1, 2015, assessment date.
(d) A rule adopted by the department of local government finance is void to the extent that the rule conflicts with this section.
(e) This subsection applies to the March 1, 2010, and March 1, 2011, assessment dates. Notwithstanding IC 6-1.1-3-7.5, a person that:
(1) is the owner of an outdoor advertising sign on an assessment date to which this subsection applies; and
(2) timely filed a personal property tax return or an amended personal property tax return for the person's outdoor advertising signs for an assessment date to which this subsection applies;
may file an amended personal property tax return to bring the person's personal property tax return into conformity with this section before October 15, 2012. The only amendments authorized by this subsection are amendments related to the determination of the true tax value of outdoor advertising signs. If the person has overpaid property taxes based on a valuation of outdoor advertising signs that is not consistent with this section, the person may, based on the person's amended personal property tax return, file a claim for the excess under IC 6-1.1-26.
SOURCE: ; (12)IN1194.1.2. -->
SECTION 2. An emergency is declared for this act.
