Bill Text: IN SB0152 | 2013 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Property tax assessments.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Passed) 2013-05-13 - Public Law 235 [SB0152 Detail]

Download: Indiana-2013-SB0152-Introduced.html

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Introduced Version

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SENATE BILL No. 152

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DIGEST OF INTRODUCED BILL

Citations Affected: IC 6-1.1-4-4.3.

Synopsis: Property tax assessments. Provides that in the case of real property that is the subject of a property tax appeal in which the gross assessed value is determined by the property tax assessment board of appeals (PTABOA), the assessed value determined by the PTABOA is the base assessed value in subsequent years. Specifies that this base assessed value is to be adjusted for the annual adjustment factor, the general reassessment of real property, and any physical change to the property. Provides that the base assessed value may be changed if the ownership of the property changes.

Effective: July 1, 2013.

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Eckerty

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    January 7, 2013, read first time and referred to Committee on Tax and Fiscal Policy.

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Introduced

First Regular Session 118th General Assembly (2013)

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 this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2012 Regular Session of the General Assembly.

SENATE BILL No. 152

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    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 6-1.1-4-4.3; (13)IN0152.1.1. -->     SECTION 1. IC 6-1.1-4-4.3 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 4.3. (a) This section applies to real property for which the gross assessed value of the real property was determined by the property tax assessment board of appeals as a result of a notice for review filed by the taxpayer. This section does not apply for an assessment date if the entire ownership interest or any part of the ownership interest of the real property changes on or before that assessment date and after the immediately preceding assessment date.
    (b) This section applies to assessment dates after 2013.
    (c) The gross assessed value of real property for an assessment date that follows the latest assessment date that was the subject of an appeal described in subsection (a) is the gross assessed value of the real property for the latest assessment date covered by the appeal. However, an adjustment to the gross assessed value of the real property for an assessment date shall be made to reflect:

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        (1) the annual adjustment factor under section 4.5 of this chapter; and
        (2) any adjustment attributable to:
            (A) the general reassessment of real property under this chapter; or
            (B) the recognition of any physical change to the real property.