Sec. 4.2. (a) The county assessor of each county shall, before July 1, 2013, and before May 1 of every fourth year thereafter, prepare and submit to the department of local government finance a reassessment plan for the county. The following apply to a reassessment plan prepared and submitted under this section:
(1) The reassessment plan is subject to approval by the department of local government finance. The department of local government finance shall complete its review and approval of the reassessment plan before:
(A) March 1, 2015; and
(B) January 1 of each subsequent year that follows a year in which the reassessment plan is submitted by the county.
(2) The department of local government finance shall determine the classes of real property to be used for purposes of this section.
(3) Except as provided in subsection (b), the reassessment plan must divide all parcels of real property in the county into four (4) different groups of parcels. Each group of parcels must contain approximately twenty-five percent (25%) of the parcels within each class of real property in the county.
(4) Except as provided in subsection (b), all real property in each group of parcels shall be reassessed under the county's reassessment plan once during each four (4) year cycle.
(5) The reassessment of a group of parcels in a particular class of real property shall begin on May 1 of a year.
(6) The reassessment of parcels:
(A) must include a physical inspection of each parcel of real property in the group of parcels that is being reassessed; and
(B) shall be completed on or before January 1 of the year after the year in which the reassessment of the group of parcels begins.
(7) For real property included in a group of parcels that is reassessed, the reassessment is the basis for taxes payable in the year following the year in which the reassessment is to be completed.
(8) The reassessment plan must specify the dates by which the assessor must submit land values under section 13.6 of this chapter to the county property tax assessment board of appeals.
(9) Subject to review and approval by the department of local government finance, the county assessor may modify the reassessment plan.
(b) A county may submit a reassessment plan that provides for reassessing more than twenty-five percent (25%) of all parcels of real property in the county in a particular year. A plan may provide that all parcels are to be reassessed in one (1) year. However, a plan must cover a four (4) year period. All real property in each group of parcels shall be reassessed under the county's reassessment plan once during each reassessment cycle.
(c) The reassessment of the first group of parcels under a county's reassessment plan shall begin on July 1, 2014, and shall be completed on or before January 1, 2015.
(d) The department of local government finance may adopt rules to govern the reassessment of property under county reassessment plans.
As added by P.L.112-2012, SEC.2. Amended by P.L.111-2014, SEC.8.
Structure Indiana Code
Chapter 4. Procedures for Real Property Assessment
6-1.1-4-1. Place of Assessment; Person Liable
6-1.1-4-2. Assessment of Property Held by Fiduciary
6-1.1-4-3. Heirs or Devisees; Assessment
6-1.1-4-4.2. County Reassessment Plan; Approval by Department of Local Government Finance
6-1.1-4-4.7. Training of Assessors and County Auditors in Sales Disclosure Form Verification
6-1.1-4-4.8. Reassessment of Covered Projects
6-1.1-4-5.5. Petition for Reassessment Under County Reassessment Plan
6-1.1-4-10. Notice of Reassessments; Publication
6-1.1-4-11. Destroyed Property; Order of Reassessment by County Assessor
6-1.1-4-12. Circumstances Under Which Undeveloped Land May Be Reassessed
6-1.1-4-12.4. "Oil or Gas Interest"; Assessment
6-1.1-4-12.6. Assessed Value of Oil or Gas Interests; Schedule; Penalty
6-1.1-4-13. Agricultural Land; Assessment; Soil Productivity Factors
6-1.1-4-13.6. Determination and Review of Land Values
6-1.1-4-14. Adjacent Property Holders; Assessment or Exemption of Various Rights-of-Way
6-1.1-4-15. Appraisal; Examination of Buildings
6-1.1-4-16. Assessors' Assistants; Appropriation
6-1.1-4-17. Employment of Professional Appraisers as Technical Advisors
6-1.1-4-18.5. Professional Appraisal; Contract for Services; Bids Required
6-1.1-4-19.5. Professional Appraising Services; Standard Contract or Contract Provisions
6-1.1-4-20. Professional Appraisal; Contract Deadline
6-1.1-4-21.4. Appraisal Completion Date and Reporting Requirements Under County Reassessment Plan
6-1.1-4-22. Amounts of Assessment or Reassessment; Notice
6-1.1-4-24. Notice to County Auditor of Assessed Value
6-1.1-4-25. Record Keeping; Electronic Data Files
6-1.1-4-26. Adoption or Promulgation of Documents by the Department of Local Government Finance
6-1.1-4-27.5. Property Reassessment Fund; Tax Levies; Petition to Increase Levy; Appeal
6-1.1-4-28.5. Property Reassessment Funds; Use of Money; Soil Maps
6-1.1-4-29. Expenses of Reassessment
6-1.1-4-30. Interim Assessments or Reassessments; Rules and Regulations
6-1.1-4-39. Assessment of Rental Property and Mobile Homes; Low Income Rental Housing Exclusion
6-1.1-4-39.5. Assessment of Qualified Real Property
6-1.1-4-41. Assessment of Low Income Rental Housing
6-1.1-4-45. Assessment of Land on Which an Outdoor Sign Is Located