SB 522 Summary

• Changes property tax assessment and valuation date from March 1 to January 1, effective January 1, 2015, with a transition period through December 31, 2014

• Shifts property tax installment due dates from May 10 and November 10 to May 20 and November 20, and modifies personal property tax return filing deadline to May 1

• Reorganizes property tax deduction application procedures into a new chapter (IC 6-1.1-11.3) with uniform filing deadlines: June 1 for county auditor filings and April 1 for other filings, effective after December 31, 2014

• Requires property tax statements be mailed at least 30 days before the first installment is due and mandates the Department of Local Government Finance certify assessed values for public utilities by June 1

• Adjusts various reporting and data transmission deadlines for county assessors, auditors, and other officials to align with the new assessment and payment dates