Senate Enrolled Act No. 266

• Repeals IC 6-1.1-4-4.3, which previously required county or township assessors to prove assessment correctness only when property value increased above a previously appealed assessment for assessment dates after 2013.

• Amends IC 6-1.1-15-17.2 to require assessors to carry the burden of proof when assessments increase more than 5% over the immediately preceding assessment date.

• Applies a stricter burden-of-proof standard to assessments following a successful appeal: assessors must prove correctness regardless of the increase amount when an appealed property's assessed value increases above the appealed assessment date value, unless the property was valued using the income capitalization approach.

• Allows taxpayers to introduce evidence if assessors fail to meet their burden of proof, and provides that assessments revert to the prior year assessment if neither party meets their burden of proof.

• Exempts assessments based on structural improvements, zoning changes, or new uses not considered in the prior year assessment from the increased burden of proof standard.