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IN SB0196
Bill
Status
1/3/2018
Primary Sponsor
Rick Niemeyer
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AI Summary
Senate Bill 196 Summary
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Eliminates annual adjustments (trending) to assessed values of most real property for assessment dates after December 31, 2018, while retaining four-year cyclical reassessment requirements.
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Preserves annual adjustments specifically for agricultural land, which continue to be adjusted annually to account for value changes between reassessments.
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Repeals IC 6-1.1-4-4.5 and IC 6-1.1-4-4.6, which previously authorized the Department of Local Government Finance to establish systems for annual adjustments of non-agricultural property values.
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Makes conforming changes throughout Indiana Code to references to the eliminated trending provisions, particularly in sections addressing property tax rate adjustments and special development districts.
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Effective January 1, 2019, with agricultural land assessment procedures transferred to IC 6-1.1-4-13.2.
Legislative Description
Elimination of annual adjustments of assessed values. Eliminates the annual adjustments (or "trending") to assessed values of certain real property for assessment dates beginning after December 31, 2018. Does not eliminate trending for agricultural land. Retains the provisions in current law that require four year cyclical reassessments. Makes conforming changes. Makes technical corrections.
Last Action
First reading: referred to Committee on Appropriations
1/3/2018