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IN HB1403
Bill
Status
1/17/2017
Primary Sponsor
Robert Cherry
Click for details
AI Summary
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Eliminates the July 1, 2019 expiration date on the law specifying assessed values for outdoor advertising signs in Indiana.
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Beginning with the 2018 assessment date (taxes due in 2019), assessed values for outdoor signs shall be adjusted every four years based on the average annual percentage changes in the Core Personal Consumption Expenditures Price Index using the four most recent calendar years of available data.
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Adjustment increases are capped at a maximum of 3% from the previous assessed values.
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Maintains the existing assessed value table for single pole structures (ranging from $2,600 to $5,000) and other types of outdoor signs (ranging from $1,000 to $2,500).
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Takes effect upon passage and declares an emergency for the act.
Legislative Description
Assessment of outdoor advertising signs. Eliminates the expiration date of the law specifying the assessed values of outdoor signs. Provides that, beginning with the 2018 assessment date, the assessed values of outdoor signs specified in the statute shall be adjusted on a quadrennial basis by an amount equal to the average of the annual percentage changes in the Core Personal Consumption Expenditures Price Index using the four most recent calendar years for which data is available. Provides that the adjustment may not exceed 3%.
Last Action
First reading: referred to Committee on Ways and Means
1/17/2017