Citations Affected: IC 6-1.1; IC 36-1.
Synopsis: Taxation of personal property. Allows the fiscal body of a
county, city, town, or, in the case of Marion County, the metropolitan
development commission, to fully or partially exempt personal property
from property taxation. Allows payments in lieu of taxes to be imposed
upon property owners receiving the exemption.
Effective: July 1, 2011.
January 6, 2011, read first time and referred to Committee on Rules and Legislative
Procedure.
January 31, 2011, amended; reassigned to Committee on Commerce and Economic
Development.
February 8, 2011, amended, reported favorably _ Do Pass; reassigned to Committee on
Tax and Fiscal Policy.
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
partially exempt personal property located in a qualified area from
property taxation. The ordinance must specify the amount and
duration of the exemption. A designating body may amend an
ordinance in the manner provided for adopting an ordinance.
(c) An ordinance adopted under subsection (b) must provide for
the uniform exemption of all personal property to which the
ordinance applies that is located in the qualified area.
(d) A designating body may rescind an ordinance adopted under
subsection (b) after a public hearing held at least two (2) years
after the date the ordinance was adopted. However, any personal
property subject to an exemption granted before an ordinance is
amended or rescinded remains subject to an exemption until it is
removed from service in the qualified area by the taxpayer.
(e) Before adopting an ordinance under this section, a
designating body shall conduct a public hearing on the proposed
ordinance. The designating body shall:
(1) publish notice of the public hearing in accordance with
IC 5-3-1; and
(2) not later than ten (10) days before the public hearing, file
the notice with each taxing unit in the county.
(f) An ordinance adopted under this section does not apply to an
assessment date occurring in the same year that the ordinance is
adopted.
(g) The designating body shall provide a certified copy of an
adopted ordinance to the department of local government finance
and the county auditor.
(h) A taxpayer is not required to file an application to qualify
for an exemption permitted under this section.
(i) The department of local government finance shall
incorporate an exemption established in this section in the personal
property return form to be used each year for filing under this
article to permit the taxpayer to enter the exemption on the form.
If a taxpayer fails to enter the exemption on the form, the township
assessor, the county assessor if there is no township assessor for the
township, or the department of local government finance, if the
department of local government finance assesses the personal
property, shall:
(1) determine the amount of the exemption; and
(2) within the period established in IC 6-1.1-16-1, issue a
notice of assessment to the taxpayer that reflects the
application of the exemption to the personal property.
(j) An exemption established under this section must be applied
to any personal property assessment made by:
(1) an assessing official;
(2) a county property tax board of appeals; or
(3) the department of local government finance.
interest, if unpaid, as in the case of other taxes on property.
PILOTS shall be treated in the same manner as taxes for purposes
of all procedural and substantive provisions of law.