HB 1065 Summary

• Limits assessed value increases for real property for four years following a property tax appeal determination, applying to appeals filed after the bill's effective date and pending appeals filed within the preceding four years.

• For new appeals, annual assessed value increases are capped at the lesser of: the prior year's assessed value multiplied by the assessed value growth quotient, or the assessed value determined by alternative methods permitted under Indiana law.

• For pending appeals, assessed value limits apply to the assessment date in question and the following three assessment dates using the same calculation method as new appeals.

• Exempts increases directly related to objective property changes (improvements, enlargements) and corrections of errors or omissions, including mathematical errors, from the assessed value caps.

• Requires assessing officials to apply these limitations automatically without requiring taxpayer initiation of a review.