IN HB1249

Defines a well (as defined by IC 25-39-2-16) as real property for purposes of Indiana property tax laws, effective July 1, 2014.

Freezes agricultural land assessments to use soil productivity factors from the March 1, 2011 assessment date for all assessment dates after December 31, 2013, unless new soil productivity factors are approved by statute.

Removes the requirement that new soil productivity factors be used beginning with the March 1, 2014 assessment date.

Application of the well definition is delayed until assessment dates occurring after February 28, 2015, for property taxes first due and payable after December 31, 2016.

Declares an emergency for the act.