House Bill 1325 Summary

• Amends IC 6-1.1-4-4.5 to modify how the Department of Local Government Finance calculates annual adjustments to agricultural land assessed values.

• Changes the rolling average calculation for determining base rates from a four-year average to a six-year average for property taxes first due and payable in 2016 and thereafter.

• Eliminates the two years with the highest and second highest market values in use of agricultural land from the six-year rolling average calculation.

• Applies to assessment dates occurring after February 28, 2015, and property taxes first due and payable after December 31, 2015.

• Becomes effective July 1, 2014.