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IN SB0374
Bill
AI Summary
SB 374 Summary
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Changes property tax assessment date references from March 1 to January 1, 2016, throughout Indiana tax code to maintain consistency with the statewide assessment date change.
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Establishes fiscal year acquisition rules for depreciable tangible personal property based on the new January assessment date, with special provisions for taxpayers with December 31 or January 31 financial year-ends.
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Updates filing deadlines for various property tax documents and applications (homestead deductions, manufacturing equipment deductions, etc.) to align with the new January 1 assessment date.
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Repeals or modifies outdated provisions related to general reassessment timelines and property appraisal schedules that were tied to the previous March 1 assessment date.
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Updates numerous references in aircraft excise tax, boat tax, redevelopment district, and other property-related provisions to use "assessment date" terminology instead of specific calendar dates.
Legislative Description
Property tax assessment date trailer. Corrects references to the property tax assessment date to make the law consistent with the change of the assessment date from March 1 to January 1. Makes corresponding changes in certain filing dates. Specifies how to determine the year of acquisition for depreciable tangible personal property.
Last Action
Public Law 245
5/6/2015