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IN HB1294
Bill
Status
1/13/2015
Primary Sponsor
Micheal Aylesworth
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AI Summary
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Amends IC 6-1.1-36-17 to govern the collection and deposit of taxes when a county auditor disallows a homestead standard deduction on property.
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County auditors must notify the county treasurer of ineligibility determinations and issue notice to property owners requiring full payment within 30 days, with additional taxes and civil penalties imposed for property taxes from assessment dates before the notation or lien recording.
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For counties containing a consolidated city, collected adjustment amounts are deposited in a nonreverting fund (up to $100,000 per year after deducting contractor costs); for all other counties, amounts are deposited directly in the county general fund.
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Bona fide purchasers without knowledge of the determination are not liable for liens covering additional taxes and penalties resulting from deduction removal.
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Nonreverting fund distributions require county fiscal body appropriation and are limited to discovery costs, other county auditor office expenses, and notice preparation costs.
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Effective July 1, 2015.
Legislative Description
Collection of tax upon disallowance of homestead deduction. Requires, in a county other than Marion County, additional tax proceeds collected by the county auditor after disallowing a homestead standard deduction to be deposited in the county general fund.
Last Action
Authored by Representative Aylesworth
1/13/2015