reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM › Rule 22 - Property Tax File Format Requirements for 2010-Pay-2011 Data and Earlier › Section 22-3 - Code lists for required data

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-31.5
Sec. 3.
The Property Tax Management System Code List Manual contains
				  the complete list of codes required for data collection and submission. Data
				  submissions must contain valid codes for specified fields based on this manual.
				  The lists required for data submission include:
(1) Code List 1 - Property Class
				Codes;
(2) Code List 2 - Street
				Codes;
(3) Code List 3 -
				Neighborhood Codes;
(4) Code List 4
				- Data Codes;
(5) Code List 5 -
				Reason for Change Codes;
(6) Code
				List 6 - Land Type Codes;
(7) Code
				List 7 - Influence Factor Codes;
(8) Code List 8 - Occupancy Codes;
(9) Code List 9 - Story Configuration
				Codes;
(10) Code List 10 - Attic
				Codes;
(11) Code List 11 --
				Basement Codes;
(12) Code List 12 -
				Crawl Space Codes;
(13) Code List
				13 - Roofing Codes;
(14) Code List
				15 - Heating Codes;
(15) Code List
				17 - Quality Grade and Design Factor Codes;
(16) Code List 18 - Construction Type
				Codes;
(17) Code List 21A - Summary
				of Improvements (Residential and Agricultural Use Codes);
(18) Code List 21B - Summary of Improvements
				(Commercial Industrial Use Codes);
(19) Code List 22 - Condition
				Codes;
(20) Code List 23 -
				Neighborhood Improvement Codes;
(21) Code List 29 - Wall Type
				Codes;
(22) Code List 30 - Frame
				Type Codes;
(23) Code List 31 -
				Pricing Key Codes;
(24) Code List
				32 - Commercial/Industrial Improvement Use Type Codes;
(25) Code List 33 - Hotel/Motel Configuration
				Codes;
(26) Code List 37 -
				Adjustment Codes (Deductions, Exemptions, and Credits);
(27) Code List 38 - Taxpayer Type
				Codes;
(28) Code List 45 Grounds
				for Appeal Codes;
(29) Code List 57
				- Taxing Unit Type Codes;
(30) Code
				List 59 - County Name and Numeric Codes;
(31) Code List 60 - State Assigned Taxing
				District Name and Numeric Codes;
(32) Code List 61 - State Assigned Township
				Name and Numeric Codes;
(33) Code
				List 62 - Country Name and 3-digit Alpha Codes;
(34) Code List 63 - Return Type
				Codes;
(35) Code List 64 - Property
				Type Codes;
(36) Code List 65 -
				Adjustment Type Codes;
(37) Code
				List 66 - Waterfront Property Type Codes;
(38) Code List 70 - Personal Property Number
				Type Codes;
(39) Code List 71 -
				Sales Disclosure Contact Person Codes;
or other code lists as determined by the department and the
				  legislative services agency, and provided in the Property Tax Management System
				  Code List Manual. This document is available on the department's website
				  located at
www.in.gov/dlgf/
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM › Rule 22 - Property Tax File Format Requirements for 2010-Pay-2011 Data and Earlier › Section 22-7 - Oil and gas assessments

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-31.5
Sec. 7.
(a) HEADER
				RECORD (appears once per file):
Column
Start
End
Length
Type
Comments/Format
Filename
1
18
18
A
Filename (e.g. "Filename: OILGAS")
County Number
19
35
17
A
Constant value (e.g. "County Number: 23")
County Description
36
75
40
A
Constant value (e.g. "County Description: LAKE COUNTY")
File Format ID
76
96
21
A
Constant value of "File Format ID: 2003A This
						  communicates the version of the structure used to create the data.
County Contact Name
97
136
40
A
Constant value (e.g. "County Contact Name: Robert
						  Smith")
County Contact Phone
137
176
40
A
Constant value (e.g. "County Contact Phone: 219-555-5555
						  ")
File create date
177
206
30
A
mm/dd/yyyy format (e.g. "File Create Date: 03/03/2003")
File create time
207
228
22
A
Constant value (e.g. "File Create Time: 1400")
Assessment Year
229
249
21
A
Constant value (e.g. "Assessment Year: 2002)
Pay Year
250
263
14
A
Constant value (e.g. "Pay Year: 2003")
Software Vendor Name
264
303
40
A
Constant value (e.g. "Software Vendor Name: ABC Vendor")
Software Package Name and Version
304
363
60
A
Constant value (e.g. "Software Package Name: ABC
						  Assessor System Version 1.5)
Software Vendor Phone Number
364
411
48
A
Constant value (e.g. "Software Vendor Phone Number:
						  317-555-5555 ")
Software Vendor Email
412
459
48
A
Constant value (e.g. "Software Vendor Email:
						  Help@ABCVendor.com")
Transmission Description
460
559
100
A
Constant value (e.g. "Transmission Description:
						  Preliminary Data Submission - Test")
(b)
				OIL AND GAS WELL ASSESSMENTS FILE (0 or many records per parcel) - Filename =
				OILGAS
Column
Start
End
Length
Type
Comments/Format
Parcel Number
1
25
25
A
Oil and gas property ID numbers must be unique within
						  the county. The first two digits must correspond with the county number. Social
						  security numbers and Federal ID numbers may not be used as a tax identification
						  number.
Well Type
26
28
3
A
Field should include one of "OIL" or "GAS"
Lease
29
48
20
A
Owner or Operator?
49
58
10
A
Acreage
59
67
9
N
Format 5.4 e.g.: 510005020; Implied: 51000.5020
Barrels of Oil or MCM Gas in Storage
68
76
9
N
Format 7.2 e.g.: 001050050; Implied: 0010500.50
Average Daily Production (Bbls or MCM)
77
85
9
N
Format 7.2 e.g.: 001050050; Implied: 0010500.50
(c)
				TRAILER RECORD (appears once per file)
Column
Start
End
Length
Type
Comments/Format
Record ID
1
10
10
A
Constant value of "TRAILER"
Total Record Count
11
30
20
N
Total number of records in the file excluding header and
						  trailer records.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 1 - Purpose and Applicability › Section 1-1 - Purpose

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC 6-1.1-4; IC 6-1.1-13
Sec. 1.
The purpose of this article is to establish the procedures
				  and standards to govern local assessing officials and the department in the
				  annual adjustment of assessed valuations of real property under IC
				  6-1.1-4-4.5
				  and IC 6-1.1-13. The procedures, procedural requirements, and standards
				  established by this article:
(1) shall
				be followed to attain a just, equal, and uniform basis and level of assessment
				among taxpayers in a county and from county to county; and
(2) will ensure that the annual assessed
				valuations are reflective of current market value-in-use conditions.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 1 - Purpose and Applicability › Section 1-2 - Applicability

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC 6-1.1-4; IC
				  6-1.1-13-6;
				  IC
				  6-1.1-14-5
Sec. 2.
This rule applies to local assessing officials and the
				  department acting under IC
				  6-1.1-4-4.5,
				  IC
				  6-1.1-13-6,
				  or IC
				  6-1.1-14-5
				  in making annual adjustments in assessed valuations of real property within and
				  across classifications and to equalizing values throughout counties.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 1 - Purpose and Applicability › Section 1-3 - Procedures

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-12
Affected: IC 6-1.1-4
Sec. 3.
In making annual adjustments in assessed valuations of real
				  property, local assessing officials are required to do the following:
(1) Reevaluate the factors that affect
				value.
(2) Express the interactions
				of those factors mathematically.
(3) Use mass appraisal techniques to estimate
				updated property values within statistical measures of accuracy.
(4) Provide notice to taxpayers of an
				assessment change that results from the application of annual
				adjustments.
(5) Adhere to the
				Uniform Standards of Professional Appraisal Practice in the performance of
				their duties.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 1 - Purpose and Applicability › Section 1-4 - Method

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC 6-1.1-13; IC 6-1.1-14
Sec. 4.
County assessors and the department may use any method or
				  combination of methods acceptable under the International Association of
				  Assessing Officials (IAAO) Standards to perform the tasks mandated by this
				  article. "IAAO standards" refers collectively to the:
(1) IAAO Standard on Ratio Studies (April
				2013);
(2) IAAO Standard on Tax
				Policy (January 2010);
(3) IAAO
				Standard on Mass Appraisal of Real Property (July 2017); and
(4) IAAO Standard on Verification and
				Adjustment of Sales (November 2010); which are hereby incorporated by
				reference. The IAAO standards are available from the IAAO on its webpage:
www.iaao.org
. Unless otherwise indicated, the
				definitions in the glossary or definition sections of the IAAO standards apply
				to all such terms that are used in this article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-1 - Applicability

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 1.
The definitions in this rule and the Real Property
				  Assessment Manual and Guidelines incorporated by reference in 50 IAC 2.4 apply
				  throughout this article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-2 - "Commissioner" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC
				  6-1.1-30-6.5
Sec. 2.
"Commissioner" means the commissioner of the department of
				  local government finance.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-3 - "Contract" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC 6-1.1-4; IC 6-1.1-13.7
Sec. 3.
"Contract" refers to an agreement under IC
				  6-1.1-4-17
				  through IC
				  6-1.1-4-20
				  between a county assessor and an appraiser under IC 6-1.1-31.7 to perform
				  services related to the requirements under this article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-4 - "County" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC
				  6-1.1-4-4.5
Sec. 4.
"County" means an Indiana county.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-5 - "Department" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-30-1.1
Sec. 5.
"Department" means the department of local government
				  finance.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-6 - "Direct equalization" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC
				  6-1.1-4-4.5
Sec. 6.
"Direct equalization" means the process of converting the
				  ratio study results into adjustment factors and changing locally determined
				  assessed values to more nearly reflect market value-in-use or the legally
				  required level of assessment.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-7 - "IAAO standards" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-12; IC 6-1.1-4-4.5
Affected: IC 6-1.1-4-4.5
Sec. 7.
"IAAO standards" refers to the International Association of
				  Assessing Officers (IAAO) standards incorporated by reference in
				  50 IAC
				  27-1-4.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-8 - "Local assessing official" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC
				  6-1.1-4-4.5
Sec. 8.
"Local assessing official" means the:
(1) county assessor; or
(2) township assessor (if any);
who is responsible for performing local assessing duties in
				  accordance with the Indiana Administrative Code.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-9 - "Property tax assessment board of appeals" or "PTABOA" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC 6-1.1-4; IC 6-1.1-28
Sec. 9.
"Property tax assessment board of appeals" or "PTABOA" means
				  the board authorized by IC 6-1.1-28.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-10 - "Ratio study" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12;
				  IC
				  6-1.1-4-4.5
Affected: IC
				  6-1.1-4-4.5
Sec. 10.
"Ratio study" means the sales-based studies designed to
				  evaluate assessment performance. It is a study of the relationship between
				  appraised or assessed values and market value-in-use as reflected by sales or
				  other information.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-11 - "Sales chasing" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 11.
"Sales chasing" has the meaning set forth in the IAAO
				  Standard on Ratio Studies (April 2013), which is the practice of using the sale
				  of a property to trigger a reappraisal of that property at or near the selling
				  price. If sales with such appraisal adjustments are used in a ratio study, the
				  practice causes invalid uniformity results and causes invalid appraisal level
				  results, unless similar unsold parcels are reappraised by a method that
				  produces an appraisal level for unsold properties equal to the appraisal level
				  of sold properties. By extension, this term means any practice that causes the
				  analyzed sample to misrepresent the assessment performance for the entire
				  population as a result of acts by the assessor's office. A subtle, possibly
				  inadvertent, variety of sales chasing may occur when the recorded property
				  characteristics of sold properties are differentially changed relative to
				  unsold properties. Then the application of a uniform valuation model to all
				  properties results in the recently sold properties being more accurately
				  appraised than the unsold ones.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-12 - "Stratification" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 12.
"Stratification" means the process where all properties in a
				  county are divided into groups of similar properties by criterion such as type,
				  location, age, or class.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-13 - "Township" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 13.
"Township" means a township that has a township
				  assessor.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 2 - Definitions › Section 2-14 - "Value calibration analysis" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 14.
"Value calibration analysis" means the process where the
				  local assessing officials correlate proposed values with verified sales of
				  similar properties within stratified groups as an integral part of performing
				  annual adjustment functions to ensure that adjusted assessments will satisfy
				  performance standards as measured by ratio studies.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 3 - Data › Section 3-1 - Property characteristics data

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.2
Sec. 1.
(a) Accuracy
				of property characteristics data is an essential element in developing accurate
				valuations for assessment. Accuracy is typically checked by selecting a sample
				of properties and having the property characteristics data collected again by a
				supervisor or deputy assessor in the county assessor's office.
(b) Property characteristics data must be
				continually updated in response to changes brought about by:
(1) new construction;
(2) new parcels;
(3) remodeling;
(4) demolition; and
(5) destruction.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 3 - Data › Section 3-2 - Sales data

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-5.5
Sec. 2.
(a) To the
				greatest extent possible, county assessors shall use sales of properties
				occurring after January 1 of the calendar year immediately preceding the
				January 1 assessment date in performing value calibration analysis and sales
				ratio studies under this article for the county. For example, sales beginning
				on January 1, 2018, shall be used for the January 1, 2019, assessment
				date.
(b) If insufficient sales
				data satisfying the IAAO Standard for Ratio Studies are available for the
				county as a whole, county assessors may use data from earlier time periods,
				time adjusting the data as described in the applicable IAAO standards
				incorporated by reference in
				50 IAC
				27-1-4.
(c) If data other than described in
				subsection (a) or (b) are intended for use, the county assessor shall first
				explain in writing to the director of the assessment division of the department
				the reasons for using other data and obtain approval for in writing prior to
				its use.
(d) If adequate sales
				data satisfying the IAAO standard are not available, other methods for testing
				the validity of the assessment prescribed by applicable IAAO standards
				incorporated by reference in
				50 IAC 27-1-4
				may be used.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-1 - Ratio studies

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-12
Affected: IC 6-1.1-4; IC 6-1.1-14-12; IC 6-1.1-33.5-6
Sec. 1.
All ratio studies shall be performed using the methods or
				  combination of methods deemed acceptable under the IAAO standards incorporated
				  by reference in
				  50 IAC 27-1-4.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-2 - Equation

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 2.
Assessed values are the numerators in the ratios used in a
				  ratio study. Sale price, as an indicator of market value-in-use, is the
				  denominator in the calculation of the ratio.
Assessed Value ÷ Sales Price = Sales Ratio
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-3 - Applicability of ratio studies

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.6;
				  IC
				  6-1.1-14-12;
				  IC
				  6-1.1-33.5-6
Sec. 3.
(a) County
				assessors and the department use ratio studies as a primary mass appraisal
				testing procedure and a performance analysis tool.
(b) The ratio study assists the county in
				providing fair and equitable assessment of all property.
(c) The ratio study is used to measure and
				evaluate the level and uniformity of mass appraisal models, determine time
				trends, and to adjust assessed values between general reassessments.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-4 - Frequency of ratio studies

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4; IC 6-1.1-14-12
Sec. 4.
(a) A ratio
				study shall be conducted by the county assessor annually for the entire county
				for each property class and for each township in the county that has a
				sufficient number of valid sales within property classes to satisfy the
				requirements of section 6 of this rule and
				50 IAC
				27-5-3.
(b) The department conducts independent ratio
				studies annually using the data contained in files submitted to the department
				by the counties. However, in addition to ratio studies that use the most recent
				calendar year sales and the subsequent January 1 assessment data, the
				department may perform ratio studies using the most recent calendar year sales
				and the prior year January 1 assessments, which are usually determined prior to
				the most recent calendar year sales events, as a means of monitoring sales
				chasing.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-5 - Ratio study statistics and standards

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-14-12; IC 6-1.1-33.5-6
Sec. 5.
(a) Except
				for agricultural land, ratio study statistics shall be calculated based on the
				methods and procedures contained in the IAAO Standard on Ratio Studies (April
				2013), as incorporated by reference in
				50 IAC
				27-1-4.
(b) The level of assessment, as determined by
				the median ratio, must fall between 0.90 and 1.10 for any class of property.
				However, the department may use necessary measures of reliability to determine
				ratio study compliance.
(c) The
				coefficient of dispersion (COD) standard for improved residential property is
				15.0 or less. All other real property has a COD standard of 20.0 or
				less.
(d) The price-related
				differential (PRD) must be between 0.98 and 1.03. However, in accordance with
				the Standard on Ratio Studies, as incorporated by reference in
				50 IAC 27-1-4,
				if there are fewer than twenty (20) sales in a particular township or class of
				property, the Spearman Rank test will be relied upon to determine if vertical
				equity has been met for that stratum. This will resolve the well-known
				sensitivity of the PRD to outliers in small samples.
(e) The overall assessment level shall be
				equal to one hundred percent (100%) of market value-in-use. However, ensuring
				uniformity in assessment levels among strata is also important. Therefore, the
				assessment level of each township and major property class (improved
				residential, unimproved residential, improved commercial, unimproved
				commercial, improved industrial, and unimproved industrial), must be within
				five percent (5%) of the overall assessment level of the county.
(f) The data used for ratio studies shall
				include the sales ratio data exported from the property tax management system
				under
				50 IAC
				26-3-6. If the county assessor or township assessor
				(if any) modifies any of the data exported from the property tax management
				system for the ratio study classification, an explanation of the modifications
				shall be provided to the department.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-6 - Classification of property for ratio studies

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC 6-1.1-13
Sec. 6.
(a) The
				county assessor shall calculate median assessment ratios for each of the
				following classes of property in the entire county and for each township in the
				county where an adequate sales sample exists as defined in section 5 of this
				rule:
(1) Improved residential.
(2) Unimproved residential.
(3) Improved commercial.
(4) Unimproved commercial.
(5) Improved industrial.
(6) Unimproved industrial.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 4 - Ratio Studies and Sales Verification › Section 4-7 - Verification requirements

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.7; IC 6-1.1-4-27.5; IC
				  6-1.1-5.5-3
Sec. 7.
(a) The
				county assessor shall retain and properly verify all sales disclosure forms
				forwarded under IC 6-1.1-5.5-3. In conjunction with IAAO standards incorporated
				by reference in
				50 IAC 27-1-4,
				the county assessor shall utilize the sales verified to perform value
				calibration analysis to determine whether adjustment factors are required
				within any neighborhoods and property classes of the county for annual
				adjustment and equalization as required by this article.
(b) Each county assessor shall complete all
				sales verification prior to February 1 for sales occurring before the January 1
				assessment date, including inspection required under
				50 IAC
				27-3-1.
(c) Sales data must be routinely confirmed.
				Receipt of properly certified sales disclosure forms required by IC 6-1.1-5.5
				initiates the verification process and provides important information by which
				sales data are confirmed.
(d) Sales
				used in a ratio study must be screened to ensure they reflect the market
				value-in-use of the real property transferred. Specific objectives of sales
				screening are to ensure the following:
(1)
				Sales used in ratio studies reflect market value-in-use.
(2) Sales prices reflect only the market
				value-in-use of the real property transferred and not the value of personal
				property, financing, leases, or other parcels of real property.
(3) Only sales that occurred during the
				period of analysis are used.
(4)
				Sales are excluded from the ratio study only with good cause, for example, when
				they compromise the reliability of the ratio study.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-1 - Adjustment factors

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 1.
(a) In the
				annual adjustment process the county assessor shall reevaluate the factors that
				affect value each year, express the interactions of those factors
				mathematically, and use mass appraisal techniques to estimate property values
				to reflect a property's market value-in-use. It is necessary to observe and
				evaluate, but not always to change, the assessment of each property each year
				in order to achieve current market value-in-use. Value calibration analysis
				studies performed by the county assessor will indicate where equalization
				action is needed to ensure annual equalization within the county.
(b) The annual adjustment process does not
				mean that each assessed valuation must be reviewed or recomputed individually.
				Instead, adjustment factors based on criteria such as property class, type,
				location, size, and age will be developed and applied to stratified groups of
				properties. These adjustment factors shall be derived from market value-in-use
				calibration analyses.
(c)
				Adjustment factors are not a substitute for physical reviews and individual
				reappraisals or reassessments, which are required to correct lack of uniformity
				within a class of property, and to obtain property characteristics data
				required by
				50 IAC
				27-3-1.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-2 - Valuation date and time adjustment

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 2.
(a) The
				county assessor shall use sales of properties occurring during a time period
				that is as short as possible and ideally not more than twelve (12) months
				before the January 1 assessment and valuation date. A longer time period may be
				required to produce a representative sample for a property class within the
				county.
(b) To develop an adequate
				sample size, the sales used in ratio studies and value calibration analyses may
				span a period as long as five (5) years provided economic shifts are taken into
				account, property characteristics are as they were at the time of the sale, and
				sales prices have been adjusted for time as necessary.
(c) The valuation date is the January 1
				assessment date. Sales occurring before that date shall be time adjusted if
				appropriate, in accordance with the IAAO standard. The time adjusted sale price
				shall become the basis for all ensuing analysis undertaken under this article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-3 - Sample representativeness

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 3.
(a) A ratio
				study or a value calibration analysis study is valid to the extent that the
				sample is sufficiently representative of the population. A study sample is
				representative when the distribution of ratios of properties in the sample
				reflects the distribution of ratios of properties in the population.
(b) To be a representative sample, the sample
				must proportionally reflect major property characteristics, for example,
				property class, type, location, size, and age, present in the population of
				sold and unsold properties. The county assessor must incorporate a quality
				control program to ensure that sold and unsold parcels are assessed at the same
				level. See IAAO Standard on Ratio Studies, Appendix E (April 2013), as
				incorporated by reference in
				50 IAC
				27-1-4.
(c) A study sample with fewer than five (5)
				sales shall not be used due to its exceptionally poor reliability.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-4 - Sample size

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 4.
(a)
				Neighborhoods and other stratified groupings such as market areas must have a
				sample size of five (5) or more sales if the data in the sample is used to
				compute an adjustment factor for the neighborhood, unless the assessing
				official is able to justify the use of fewer sales in the neighborhood within
				the ratio study narrative. To increase the sample size, an assessing official
				must combine sample data from neighborhoods and other groupings that have
				similar parcel or market characteristics. For greater assessment precision, a
				larger sample size is needed. Therefore, in accordance with IAAO standards
				incorporated by reference in
				50 IAC 27-1-4,
				the department will require that adequate sample sizes be used.
(b) If commercial and industrial improved
				properties have a limited number of sales, for example, fewer than five (5)
				sales in the strata, the county must use the other approaches to value as
				outlined in section 8 of this rule, that is, cost tables, income data, MLS
				data, and any other relevant industry standards.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-5 - Outlier ratios

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 5.
(a) Outlier
				ratios are very low or high ratios as compared with other ratios in the sample.
				One (1) extreme outlier can have a controlling influence over some statistical
				measures. Outlier ratios can result from an erroneous sale price, a nonmarket
				sale, unusual market variability, a mismatch between property sold and the
				property assessed, and other reasons listed in the IAAO Standard on Ratio
				Studies, Standard 5.2 (April 2013), as incorporated by reference in
				50 IAC
				27-1-4.
(b) The preferred method of handling an
				outlier ratio is to subject it to additional scrutiny to determine whether the
				sale is a nonmarket transaction or contains an error in fact. If the error can
				be corrected, for example, data entry error, the property should be kept in the
				sample. If the error cannot be corrected, if correction of the error would
				cause the identified outlier to no longer be representative of the population,
				or if inclusion of the identified outlier would reduce sample
				representativeness, the sale shall be excluded.
(c) For guidelines on outlier identification
				and trimming, the department requires that assessing officials follow the IAAO
				Standard on Ratio Studies, Appendix B (April 2013), as incorporated by
				reference in
				50 IAC 27-1-4.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-6 - Review of neighborhood delineations

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 6.
(a) The
				assessing official shall review existing neighborhood delineations to determine
				if the delineations used adequately placed like property into homogeneous
				geographic groups. The assessing official may only modify neighborhood
				boundaries if their neighborhood review identifies inadequacies in the original
				delineations. This modification may include the development of new neighborhood
				delineations. If the assessing official determines through review, ratio
				studies, or assessment appeals from previous assessment years that the
				neighborhood delineations need to be modified, the local assessing official
				shall proceed in setting new neighborhood boundaries.
(b) The assessing official shall base new
				neighborhood delineations on geographic areas sharing locational and physical
				similarities, and stratified groups exhibiting a high degree of similarity in
				the following:
(1) Amenities.
(2) Use.
(3) Economic trends.
(4) Building characteristics, such as the
				following:
(A) Improvement quality.
(B) Age.
(C) Physical characteristics.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-7 - Review of land values

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 7
.
(a) The county
				assessor shall review land values as part of the annual adjustment
				process.
(b) If the county assessor
				determines through review, ratio studies, or assessment appeals from previous
				assessment years that the land base rate units need to be modified, the county
				assessor shall proceed to set new land base rates. The sales comparison
				approach is the primary approach to land valuation and is always preferred when
				sufficient sales are available. If there are fewer than five (5) sales in a
				strata, there are several methods of determining land values in the absence of
				adequate sales in a neighborhood, including, but not limited to, the following:
(1) Use land values from a similar
				neighborhood that has vacant land sales to support the land base
				rate.
(2) Extract the land value
				from valid sales of improved properties.
(3) Expand the period from which sales are
				drawn and adjust for time as necessary.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-8 - Preliminary analysis

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 8.
(a) Ratio
				studies and value calibration analyses shall be used by local assessing
				officials to determine the need for and extent of annual adjustments
				required.
(b) The standards
				contained in Part 1, Section 9 of the IAAO Standard on Ratio Studies (April
				2013), as incorporated by reference in
				50 IAC 27-1-4
				shall be used to determine the annual adjustment actions required by the local
				assessing official.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 5 - Annual Adjustment Process › Section 5-9 - Mandatory application of factors

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 9.
(a) If, upon
				review of the ratio studies and value calibration analyses, the local assessing
				official determines that adjustment factors must be applied in order to ensure
				assessed values reflect market value-in-use and meet the statistical standards
				of 50 IAC 27-4-1.450 IAC
				27-4-5, the local assessing official shall proceed
				with the application of the annual adjustment factors in accordance with this
				article.
(b) If assessing officials
				determine that there are fewer than five (5) sales of commercial or industrial
				improved property in the strata to determine annual adjustment factors, the
				county shall use one (1) or more of the following to derive annual adjustment
				factors or modify the values of commercial and industrial property:
(1) Nationally published cost data from a
				credible source, such as Craftsman or Marshall and Swift, and locally developed
				depreciation tables from the last calendar year preceding the assessment
				date.
(2) Income data, rental data,
				market value-in-use appraisals, and other relevant evidence derived from
				appeals of previous reassessments and adjusted, as applicable, to the January 1
				of the year preceding the assessment date.
(3) Commercial real estate reports.
(4) Governmental studies.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 6 - Agricultural Property › Section 6-1 - Agricultural property

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-13;
				  IC
				  6-1.1-4-13.2
Sec. 1.
(a) Land
				used for agricultural purposes shall be adjusted consistent with the guideline
				methodology developed for the 2012 general reassessments agricultural land
				value except, in determining the annual base rate, the department shall adjust
				the methodology to use a six (6) year rolling average. The department will
				issue annually, before January 1, the base rate to be applied for that January
				1 assessment date.
(b) Those
				portions of agricultural parcels that include land and buildings not used
				agriculturally, such as homes, homesites, and excess land and commercial or
				industrial land and buildings, shall be adjusted by the factor or factors
				developed for other similar property within the geographic stratification. The
				residence portion of agricultural properties will be adjusted by the factors
				applied to similar residential properties.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 7 - Time › Section 7-1 - Time

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-22; IC 6-1.1-14; IC 6-1.1-33.5
Sec. 1.
(a)
				Assessing officials shall do the following:
(1) Perform annual adjustments compliant with
				this article before tax rates are set by the department based on values
				generated by any form of annual adjustment performed under this rule.
(2) Execute the adjustment and subsequent
				finalization of values without interruption.
If the department determines that further review of a
				  county's assessed values is warranted, the department shall conduct a review
				  and notify the county in accordance with
				  50 IAC
				  27-10,
				  50 IAC
				  27-11, IC 6-1.1-4, IC 6-1.1-14, or IC
				  6-1.1-33.5.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 8 - Mandatory Analysis › Section 8-1 - Mandatory analysis

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12
Affected: IC 6-1.1-4-4.5
Sec. 1.
After the application of annual adjustment factors, the
				  county assessor shall calculate assessment ratio studies and provide the
				  results to the department in the manner specified in
				  50 IAC
				  27-4-5,
				  50
				  IAC 27-4-6, and
				  50 IAC
				  27-7-1.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 9 - Transfer of Data to the Department of Local Government Finance › Section 9-1 - Transfer of sale and parcel data

Current through July 10, 2024
Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC
				  6-1.1-31-12
Affected: IC 6-1.1-4-25; IC 6-1.1-5-14; IC 6-1.1-5.5-3; IC
				  6-1.1-33.5-3
Sec. 1.
(a) On or
				before February 1 of each year, county assessors must submit to the department
				all sales disclosure data in the formats specified by the department in
				electronic form. The data format must include all sales disclosure data on all
				sales occurring in the county for the entire preceding calendar year and the
				current year before January 1.
(b)
				The county assessor must submit to the department all parcel data in the
				specified formats as required by IC 6-1.1-4-25 to be utilized by the department
				in accordance with IC 6-1.1-33.5-3. The data may be submitted upon
				certification of values by the assessor to the auditor on or before July 1 as
				required by IC 6-1.1-5-14 or thereafter, but in no event later than August 31.
(c) Upon request, the county
				assessor or any person that the county or township assessor, if any, has
				contracted to perform any studies associated with this annual adjustment rule
				shall provide, at no cost to the department, any further information that the
				department determines is necessary or proper to the department's determination
				of compliance with the requirements of IC 6-1.1-4-4.5, this rule, or the IAAO
				standards incorporated by reference in
				50 IAC
				27-1-4.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 9 - Transfer of Data to the Department of Local Government Finance › Section 9-2 - Computer assisted mass appraisal systems

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC
				  6-1.1-4-4.5
Sec. 2.
The local assessing official shall be responsible for
				  ensuring that the sales data is included in the database used in the property
				  valuation software employed by the assessors. The local assessing official may
				  also capture this data in other analytical or data capture software systems,
				  but all transfers with a stated consideration must be included in the primary
				  valuation software.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 9 - Transfer of Data to the Department of Local Government Finance › Section 9-3 - Transfer of statistical data

Current through July 10, 2024
Authority: IC
				  6-1.1-4-4.5;
				  IC
				  6-1.1-31-1;
				  IC
				  6-1.1-31-12
Affected: IC 6-1.1-13; IC 6-1.1-14
Sec. 3.
(a) County
				assessors shall forward to the division of data analysis electronic
				spreadsheets that contain all data used to calculate a coefficient of
				dispersion (COD) and median ratio for the county and each township on or before
				March 1. The data the county assessor provides must, at a minimum, include the
				following information for each property used to calculate the COD and median
				ratio:
(1) Parcel number.
(2) Township.
(3) Neighborhood code.
(4) Property class code.
(5) Taxing district.
(6) Sale date.
(7) Sale price.
(8) Assessed value of land.
(9) Assessed value of improvement.
(10) Total assessed value.
(11) Ratio.