Introduced Version
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.
January 7, 2013, read first time and referred to Committee on Tax and Fiscal Policy.
Introduced
First Regular Session 118th General Assembly (2013)
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SENATE BILL No. 152
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:
(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.