reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 10 - Mandatory Application of Factor › Section 10-1 - Provision of information to the department

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.
(a) If the
				median ratio or coefficient of dispersion (COD) calculated for the county and
				each township in any property classification specified in 50 IAC
				27-4-1.550 IAC
				27-4-6, as verified by the department, falls outside
				the requirements of 50 IAC 27-4-1.450 IAC
				27-4-5, the county assessor shall apply an adjustment
				factor to bring the median ratio and COD into compliance.
(b) If the county assessor believes that
				reasons exist why no factor should be applied in a particular township, the
				county assessor shall immediately:
(1) notify
				the commissioner in writing of those reasons; and
(2) request permission to take:
(A) action other than that mandated in
				subsection (a); or
(B) no
				action.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 11 - Reassessment › Section 11-1 - Reassessment

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. 1.
(a) If the
				coefficient of dispersion (COD) calculated for the county or township for any
				property classification specified in
				50
				IAC 27-4-6, as verified by the department, falls
				outside the requirements of
				50 IAC
				27-4-5 and cannot be corrected by use of the annual
				adjustment and equalization methods specified in this article or IC 6-1.1-13 or
				IC 6-1.1-14, the county assessor shall reassess the property class in the
				county or township, whichever is applicable, to bring it into compliance with
				the requirements of the IAAO standards incorporated by reference by
				50 IAC
				27-1-4.
(b) If the price-related differential (PRD)
				calculated for the county or township for any property classification specified
				in
				50
				IAC 27-4-6, as verified by the department, falls
				outside the requirements of
				50 IAC
				27-4-5 and cannot be corrected by use of the annual
				adjustment and equalization methods specified in this article, the county
				assessor shall reassess the property class in the county or township in order
				to bring it into compliance with the requirements of the IAAO
				standard.
(c) If the county
				assessor believes that reasons exist not to reassess a property class in the
				county under subsection (a) or (b), the county assessor shall immediately:
(1) notify the commissioner in writing of
				those reasons; and
(2) request
				permission to take:
(A) action other than
				that mandated in subsection (a) or (b); or
(B) no action.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 11 - Reassessment › Section 11-2 - Sales chasing

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; IC 6-1.1-14
Sec. 2.
(a) Sales
				chasing is the practice of adjusting the value on properties that sold without
				regard to the market analysis performed in setting values for the population.
				Sales chasing can occur on an individual basis or can occur systematically.
				First, on an individual basis, it may occur when individual sales are reviewed
				with focus on the assessed value to the sales price. In such a situation, the
				assessor changes characteristics of the property in order for the value to come
				in line with the sales price. Systematic sales chasing may occur if, when
				creating adjustments for the market, characteristics are over-stratified. The
				most common over-stratification is with the creation of
				neighborhoods.
(b) A subtle,
				possibly inadvertent, variety of sales chasing occurs 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.
(c)
				Local assessors shall avoid the practice of sales chasing. The department shall
				monitor and discourage sales chasing because unless similar unsold parcels are
				reassessed at the same level as sold parcels, sales chasing causes inequitable
				treatment of taxpayers by shifting the tax burden to taxpayers who have
				recently bought property.
(d) As
				long as sold and unsold parcels are assessed in the same manner and the data
				describing them are coded consistently, statistics calculated in a sales ratio
				study can be used to infer assessment performance for unsold parcels. However,
				if parcels that sell are selectively reassessed or recoded based on their sales
				prices or some other criterion, such as listing price, and if such parcels are
				in the ratio study, sales ratio study uniformity inferences will not be
				accurate (assessments will appear more uniform than they are).
(e) Local assessors and the department are
				not required to employ all of the detection techniques described in Appendix E
				of the IAAO Standard on Ratio Studies (April 2013), but shall consider
				implementing at least one (1) procedure.
(f) Once it is determined that sales chasing
				probably has occurred and probably is reducing the validity of ratio study
				statistical measures of level or uniformity, it is necessary for the assessor
				to redo the ratio study to establish valid measures before any other
				recommendations, such as reassessment in accordance with IC 6-1.1-4 or
				equalization action in IC 6-1.1-14, may be made.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 12 - Action by Department of Local Government Finance › Section 12-1 - Action

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 department shall take all action necessary under the
				  laws and administrative rules to ensure timely completion of the annual
				  adjustment process by local assessing officials.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 27 - ANNUAL ADJUSTMENTS AND EQUALIZATION STANDARDS › Rule 13 - Procedures in Townships › Section 13-1 - Procedures in townships

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.
(a) The
				township:
(1) is an integral component of the
				county; and
(2) shall be analyzed
				and assessed accordingly.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 1 - General Provisions › Section 1-1 - Purpose

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
The purpose of this article is to establish procedures to
				  govern the application for the deduction for residences in inventory
				  established under IC 6-1.1-12.8.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 1 - General Provisions › Section 1-2 - Applicability

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 2.
This article applies to taxpayers applying for the deduction
				  for residences in inventory.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 2 - Definitions › Section 2-1 - Applicability

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
The definitions in this rule apply throughout this article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 2 - Definitions › Section 2-2 - "Affiliated group" defined

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.6-0.5; IC 6-1.1-12.8; IC
				  6-3-1-19
Sec. 2.
"Affiliated group" means any combination of the following in
				  accordance with IC 6-1.1-12.6-0.5:
(1)
				An affiliated group within the meaning provided in Section 1504 of the Internal
				Revenue Code except that the ownership percentage in Section 1504(a)(2) of the
				Internal Revenue Code must be determined using fifty percent (50%) instead of
				eighty percent (80%) or a relationship described in Section 267(b)(11) of the
				Internal Revenue Code.
(2) Two (2)
				or more partnerships as defined in IC 6-3-1-19, including limited liability
				companies and limited liability partnerships that have the same degree of
				mutual ownership as an affiliated group described in subdivision (1).
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 2 - Definitions › Section 2-3 - "Residence in inventory" defined

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8-1
Sec. 3.
"Residence in inventory" has the meaning set forth in IC
				  6-1.1-12.8-1.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 2 - Definitions › Section 2-4 - "Residential builder" defined

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8-2
Sec. 4.
"Residential builder" has the meaning set forth in IC
				  6-1.1-12.8-2.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 3 - Residence in Inventory Deduction › Section 3-1 - Applicability of residence in inventory deduction

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
(a) The
				deduction from the assessed value of a residence in inventory described in
				subsection (b) is applicable only to a residence in inventory that is first
				assessed as a:
(1) partially completed
				structure; or
(2) fully completed
				structure;
for the assessment date in 2012 or a later year.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 3 - Residence in Inventory Deduction › Section 3-2 - Application for residence in inventory deduction

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 2.
(a) A
				residential builder that owns a qualified residence in inventory must file a
				claim for the deduction with the county auditor on the form prescribed by the
				department of local government finance for each assessment date for which the
				person wishes to receive the deduction.
(b) The form must be verified under the
				penalties for perjury and contain all of the following information:
(1) The assessed values of the real property
				for which the person is claiming the residence in inventory deduction.
(2) The full name and complete
				business address of the person claiming the residence in inventory deduction.
(3) The complete address and a
				brief description of the real property for which the person is claiming the
				residence in inventory deduction.
(4) The name of any other county in which the
				person has applied for a residence in inventory deduction for that assessment
				date.
(5) The complete address and
				a brief description of any other real property for which the person has applied
				for a residence in inventory deduction for that assessment date.
(6) An affirmation by the person that he or
				she is not receiving more than three (3) residence in inventory deductions,
				including the deduction being applied for, either as:
(A) the owner of the residence in inventory;
				or
(B) an owner that is part of an
				affiliated group.
(7)
				An affirmation that the real property has not been leased and will not be
				leased for any purpose during the term of the deduction.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 4 - Limitations on Residence in Inventory Deduction › Section 4-1 - Limit of three residence in inventory deductions

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
(a) An owner
				of a qualified residence in inventory who is not an affiliated group as defined
				in 50 IAC 28-2-2 may not receive the deduction for more than three (3)
				qualified residences in inventory in Indiana for a particular assessment date.
(b) Owners of residences in
				inventory who are part of an affiliated group as defined in 50 IAC 28-2-2 may
				not exceed an aggregate of three (3) residences in inventory deductions for a
				particular assessment date.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 4 - Limitations on Residence in Inventory Deduction › Section 4-2 - Deduction not applicable in allocation areas

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8; IC 6-1.1-21.2-3
Sec. 2.
An owner may not receive a residence in inventory deduction
				  for a qualified residence in inventory located in an allocation area as defined
				  in IC 6-1.1-21.2-3.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 4 - Limitations on Residence in Inventory Deduction › Section 4-3 - One deduction per residence in inventory per year

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 3.
(a) An owner
				of a residence in inventory that qualifies for the residence in inventory
				deduction and also qualifies for a deduction under another statute with respect
				to the same residence in inventory may not receive a deduction under both
				statutes for that year.
(b) A
				county auditor who receives claims for more than one (1) deduction with respect
				to a residence in inventory may approve only one (1) of the deductions. If the
				residence in inventory owner is otherwise qualified, the county auditor must
				approve the deduction that results in the greater property tax saving for the
				owner of the residence in inventory.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 5 - Change in Ownership › Section 5-1 - Application of the deduction upon change of ownership

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 1.
If ownership of the qualified residence in inventory changes:
(1) a new owner that is a residential
				builder for which the property is a residence in inventory may claim the
				residence in inventory deduction; and
(2) the deduction may not be applied for an
				assessment date other than the assessment dates to which the deduction could
				have applied if ownership had not changed.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 5 - Change in Ownership › Section 5-2 - Obligation of owner of residence in inventory upon transfer of ownership

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-5.5; IC 6-1.1-12.8
Sec. 2.
An owner of residence in inventory who claims a residence in
				  inventory deduction must provide to the county auditor a notice that:
(1) informs the auditor of a transfer of the
				ownership of the qualified residence in inventory; and
(2) indicates whether the new owner is
				eligible to receive a residence in inventory deduction.
The notice must be submitted to the county auditor at the
				  same time that a sales disclosure form is filed under IC 6-1.1-5.5.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 28 - DEDUCTION FOR RESIDENCE IN INVENTORY › Rule 5 - Change in Ownership › Section 5-3 - Termination

Current through July 10, 2024
Authority: IC 6-1.1-12.8-8
Affected: IC 6-1.1-12.8
Sec. 3.
(a) The
				deduction allowed for a residence in inventory is terminated if the residence
				in inventory is transferred after the assessment date of that year but before
				January 1 of the following year to a person who does not continue to use the
				property as a residence in inventory.
(b) The county auditor must immediately mail
				notice of the termination to the former owner, the property owner, and the
				township assessor, if there is one, or, if not, the county assessor.
(c) The county auditor must:
(1) remove the deduction from the tax
				duplicate; and
(2) notify the
				county treasurer of the termination of the deduction.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 1 - General Provisions › Section 1-1 - Purpose

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 1.
The purpose of this article is to establish uniform
				  procedures to be used for the assessment of golf courses under IC 6-1.1-4-42.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 1 - General Provisions › Section 1-2 - Applicability

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 2.
Under IC 6-1.1-4-42, this article applies to the assessment
				  of golf courses, as defined in 50 IAC 29-2.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 2 - Definitions › Section 2-1 - Applicability

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 1.
The definitions in this rule apply throughout this article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 2 - Definitions › Section 2-2 - "Department" defined

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 2.
"Department" means the department of local government
				  finance.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 2 - Definitions › Section 2-3 - "Golf course" defined

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 3.
"Golf course" has the meaning set forth in IC 6-1.1-4-42(b).
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 2 - Definitions › Section 2-4 - "Market value-in-use" defined

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 4.
"Market value-in-use" means the market value-in-use of a
				  property for its current use, as reflected by the utility received by the owner
				  or by a similar user, from the property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-1 - Duties of assessing officials

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 1.
Assessing officials must use the procedures adopted by the
				  department in this article to:
(1)
				assess;
(2) reassess; and
(3) annually adjust;
the value of golf courses.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-2 - Exceptions to the valuation of golf courses

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 2.
The value of personal property, intangible property, and
				  income derived from personal or intangible property is excluded from the
				  valuation of golf courses. Excluded from the income capitalization approach to
				  valuation is income derived from pro shop merchandise sales and the income
				  derived from the rental of golf carts.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-3 - Income capitalization

Current through July 10, 2024
Authority: IC
				  6-1.1-4-42
Affected: IC
				  6-1.1-35-9
Sec. 1.
(a) In
				assessing golf courses by means of the income capitalization method, an
				assessing official shall derive a value indication for income-producing
				property by dividing the three (3) year average net operating income by the cap
				rate as determined annually by the department.
(b) Through use of income capitalization, an
				assessing official shall rely on the economic principles of the following:
(1) Anticipation.
(2) Change.
(3) Supply and demand and competition.
(4) Substitution.
(5) Balance and contribution.
(6) Industry standard cap rates.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-4 - Income and expense statement

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 4.
Income and expense information, which may include the
				  following, should be arranged and evaluated by the assessing official in this
				  order:
(1) Gross income (potential
				gross income).
(2) Miscellaneous
				income.
(3) Effective gross
				income.
(4) The following
				allowable expenses:
(A) Operating.
(B) Replacement reserves.
(C) Real estate taxes deducted under certain
				conditions.
(D) Management
				fees/expense.
(E) Insurance.
(F) Salaries.
(G) Benefits.
(H) Utilities.
(I) Advertising.
(J) Repairs.
(K) Supplies.
(L) Legal and accounting fees.
(M) Miscellaneous expenses.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-5 - Calculating value of property

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 5.
(a) In
				reliance on the golf course's income and expense information, the assessing
				official shall determine the valuation of the property through the following
				steps:
STEP ONE: Determine potential gross income.
STEP TWO: Add miscellaneous income.
STEP THREE: Add the potential gross income to miscellaneous
				  income to determine the effective gross income.
STEP FOUR: Deduct expenses and replacement reserves from the
				  effective gross income to determine the net operating income.
STEP FIVE: Divide the net operating income by the overall
				  capitalization rate to determine the assessed value.
(b) For golf courses for which detailed
				income and expense information is unavailable, information such as ordinary
				income, depreciation, interest expenses, entertainment (if any), and golf cart
				income (less expenses) shall be utilized to determine the assessed value.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-6 - Capitalization rate

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 6.
(a) The
				overall capitalization rate expresses the relationship between net operating
				income and the market value of the property and shall be developed using the
				following:
(1) Market extraction.
(2) Effective tax rate.
(3) Mortgage and equity.
(4) Discounted cash flow.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-7 - True tax value and zero or negative assessments

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 7.
Where there is a negative net operating income, therefore,
				  producing an assessed value of zero (0), the assessing official shall first
				  ensure that all income and expense information is accurate. Where, despite a
				  review of the information, the assessed value is still negative or zero (0),
				  the assessing official shall determine the market value-in-use that results in
				  a liability of five percent (5%) of the adjusted gross income, as illustrated
				  by the following example:
Assuming a 12% Overall Capitalization Rate
Assuming $300,000 in Expenses
Gross Income = $500,000
Less Golf Cart Income = <$150,000>
Less Pro Shop Income = <$50,000>
Adjusted Gross Income = $300,000
Less Expenses = <$300,000>
Net Operating Income = $0
Multiply Adjusted Gross Income by 5% = $300,000 × 5% =
				  $15,000
Divide above result by 12% Overall Capitalization Rate =
				  $15,000/12% = $125,000 Assessed Value
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 29 - PROCEDURES FOR THE ASSESSMENT OF GOLF COURSES › Rule 3 - Procedures for the Assessment of Golf Courses › Section 3-8 - Assessed value from base capitalization rate and net operating income

Current through July 10, 2024
Authority: IC 6-1.1-4-42
Affected: IC 6-1.1-4-42
Sec. 8.
When using the income capitalization approach, the assessed
				  value of real property is found by dividing the net operating income by the
				  overall capitalization rate. The following table, which is for illustrative
				  purposes only and does not reflect all possible scenarios, shows assessed
				  values rounded to the nearest one hundred dollars ($100), where an assessed
				  value (AV) is given where the column for a net operating income (NOI) amount
				  intersects with the row for an overall capitalization rate:
Overall Capitalization Rate
NOI $20,000
NOI $40,000
NOI $60,000
NOI $80,000
NOI $100,000
8%
AV $250,000
AV $500,000
AV $750,000
AV $1,000,000
AV $1,250,000
9%
AV $222,200
AV $444,400
AV $666,700
AV $888,900
AV $1,111,100
10%
AV $200,000
AV $400,000
AV $600,000
AV $800,000
AV $1,000,000
11%
AV $181,800
AV $363,600
AV $545,500
AV $727,300
AV $909,000
12%
AV $166,700
AV $333,300
AV $500,000
AV $666,700
AV $833,300
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 1 - General Provisions › Section 1-1 - Purpose

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 1.
The purpose of this article is to provide guidance for
				  applying IC 6-1.1-31-6(d) and IC 6-1.1-31-6(e). These rules are intended to
				  assist in the identification and use of sufficiently similar comparable sale
				  properties in a sales comparison approach or other approaches to value that can
				  utilize the identification of comparable sale properties.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 1 - General Provisions › Section 1-2 - Applicability

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 2.
(a) Under IC
				6-1.1-31-6, this article applies to the valuation of real property
				improvements, as defined in 50 IAC 30-2, in which the sales comparison approach
				or other approaches to value that can utilize the identification of comparable
				sale properties are employed pursuant to 50 IAC 2.4.
(b) The rules provided in this article
				supplement and do not supersede the rules of the department on the assessment
				of real property at 50 IAC 2.4.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-1 - Applicability

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 1.
The definitions in this rule apply throughout this
				  article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-2 - "Department" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 2.
"Department" means the department of local government
				  finance.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-3 - "Disaggregation" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 3.
"Disaggregation" means grouping properties together based on
				  similar attributes or characteristics of the properties to differentiate them
				  from other types of property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-4 - "Generally accepted appraisal principles" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 4.
"Generally accepted appraisal principles" refers to the
				  appraisal principles and standards recognized in the appraisal community as
				  authoritative. Sources of generally accepted appraisal principles include, but
				  are not limited to, the following:
(1)
				The Uniform Standards of Professional Appraisal Practice (USPAP) promulgated by
				the Appraisal Foundation.
(2) The
				interpretations of USPAP offered in the advisory opinions of the Appraisal
				Standards Board of The Appraisal Foundation and all other documents intended by
				the Appraisal Standards Board as interpretations of USPAP.
(3) Standard appraisal and valuation texts
				published by the Appraisal Institute.
(4) Standard appraisal and valuation texts
				published by the International Association of Assessment Officers.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-5 - "Market" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 5.
"Market" means an aggregation of likely actual or potential
				  sellers and buyers facilitating the exchange of real property. A market for a
				  property is not necessarily limited to a particular geographic area or taxing
				  jurisdiction and can be local, regional, national, or
				  international.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-6 - "Market area" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 6.
"Market area" means the geographic or locational delineation
				  of the market for a specific category of real property; i.e., the area in which
				  alternative, similar properties effectively compete with the subject property
				  in the minds of probable likely purchasers and users.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-7 - "Market segmentation" or "market segmentation analysis" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 7.
"Market segmentation" or "market segmentation analysis" means
				  the process by which markets and submarkets for a property are identified and
				  analyzed.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-8 - "Real property improvements" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 8.
"Real property improvements" refers to buildings or fixtures
				  situated on land located within this state or an appurtenance to land located
				  within this state.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-9 - "Submarket" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 9.
"Submarket" means a division of a market that reflects the
				  preferences of a particular set of buyers and sellers for real property. A
				  submarket for a property is not necessarily limited to a particular geographic
				  area or taxing jurisdiction and can be local, regional, national, or
				  international.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 2 - Definitions › Section 2-10 - "True tax value" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 10.
"True tax value" refers to the true tax value of real
				  property as defined in the 2011 Real Property Assessment Manual, incorporated
				  by reference in
				  50 IAC
				  2.4-1-2(c).
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 3 - Market Segmentation › Section 3-1 - Purpose and conduct of market segmentation

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 1.
(a) Per IC
				6-1.1-31-6(d), a market segmentation analysis may be used as evidence refuting
				or supporting the purported comparability of a sale or appropriateness of a
				valuation approach in an opinion of true tax value.
(b) A market segmentation analysis must
				conform to generally accepted appraisal principles.
(c) No specific form or procedure is required
				for a market segmentation analysis.
(d) It is not required for a market
				segmentation analysis to:
(1) accompany a
				valuation utilizing the sales comparison approach; or
(2) be separate or distinct from an appraisal
				report.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 3 - Market Segmentation › Section 3-2 - Property attributes

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 2.
(a) Property
				attributes, including an attribute of the real property improvement described
				in subsection (b), for purposes of disaggregation, may include the following:
(1) Age (e.g., construction date of
				property), including effective age.
(2) Use.
(3) Deed or use restrictions (e.g.,
				constraints on ownership type or use).
(4) Design and amenities (e.g., unheated
				storage space, mezzanine, drive-thru, specially designed features).
(5) Land-to-building ratio (e.g., large or
				small building footprint).
(6)
				Location (e.g., prime or desirable location, traffic count of access roads and
				streets).
(7) Occupancy (e.g.,
				residential, apartment, office, retail), whether single-tenant or
				multitenant.
(8) Physical
				characteristics.
(9) Quality of
				construction (e.g., class of building).
(10) Size (e.g., square footage of
				building).
(11) Any other relevant
				factors.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 30 - MARKET SEGMENTATION OF REAL PROPERTY IMPROVEMENTS › Rule 3 - Market Segmentation › Section 3-3 - Analysis of markets and submarkets

Current through July 10, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31-6
Affected: IC 6-1.1-31-6
Sec. 3.
(a) A market
				segment is delineated by identifying the likely actual or potential buyers and
				sellers of a property based on its current use. A submarket segment is
				delineated by identifying the preferences of a particular set of buyers and
				sellers for real property based on its current use.
(b) Consistent with generally accepted
				appraisal principles, identification of markets and submarkets may include
				consideration of the following factors:
(1)
				Property type (e.g. single-unit residence, retail shopping center, office
				building, etc.).
(2) Property
				features, including, but not limited to, the following:
(A) Property attributes, including those
				listed in section 2 of this rule.
(B) Customer base, consisting of the most
				probable users and based on the economic differences and similarities of the
				properties, including analysis of population, employment, income, and activity
				patterns.
(3) Market
				area, defined by geographical market and location. Market area may not
				necessarily be limited to the same geographic area or taxing jurisdiction.
				Depending on the property type, a market area may be local, regional, national,
				or international in scope. It may be urban, suburban, or rural. It may
				correspond to a district or neighborhood of a city.
(4) Available substitute properties, which
				are equally desirable and compete with the subject property in its market or
				submarket area, which may be local, regional, national, or
				international.
(5) Other properties
				or property types that are complementary to the subject property, which are
				also referred to as support facilities.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 1 - Purpose and Applicability › Section 1-1 - Purpose

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.5-4-1; IC
				  6-1.5-5-1
Sec. 1.
The purpose of this article is to establish
				  procedures to govern administrative proceedings before the Indiana
				  board of tax review (board). "Board" refers to the Indiana board of
				  tax review throughout this title. The procedures established by this
				  article are deemed essential to ensure the expedient, uniform, and
				  objective resolution of appeals before the board.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 1 - Purpose and Applicability › Section 1-2 - Applicability

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.5-4-1; IC
				  6-1.5-5-1
Sec. 2.
The provisions of this article apply to and govern
				  all appeals before the board.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 1 - Purpose and Applicability › Section 1-3 - Jurisdiction of the board

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.5-4-1; IC
				  6-1.5-5-1
Sec. 3.
The board shall conduct an impartial review of an
				  appeal from:
(1) a
				determination by an assessing official or a county property tax
				assessment board of appeals described under IC 6-1.5-4-1;
(2) a final determination of the
				department of local government finance described under IC 6-1.5-5-1;
				or
(3) any other
				determination or finding by the department, a property tax assessment
				board of appeals (PTABOA), or an assessing official for which review
				by the board is expressly authorized under Indiana law.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-1 - Applicability

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.5-4-1; IC
				  6-1.5-5-1
Sec. 1.
The definitions in this rule apply throughout this
				  article.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-2 - "Appeal petition" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.5-4-1; IC
				  6-1.5-5-1
Sec. 2.
"Appeal petition" means a petition for review
				  filed with the board under IC 6-1.5-4-1 or IC
				  6-1.5-5-1.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-3 - "Authorized representative" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-1; IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.5-5-1
Sec. 3.
"Authorized representative" means a person
				  authorized to appear and represent a party in an appeal before the
				  board, including the following:
(1) An assessing official or a
				permanent, full-time employee of a local unit of government appearing
				on behalf of the unit or, in regard to an amicus filing under IC
				6-1.1-15-4, another unit.
(2) A taxpayer representative
				qualifying under IC 6-1.1.15
[IC
				6-1.1-15]
.
(3) A
				local government representative qualifying under 52 IAC
				4-3-1.
(4) A certified
				public accountant qualifying under 52 IAC 4-3-2.
(5) A representative of a minor or
				incapacitated party qualifying under 52 IAC 4-3-3.
(6) A representative of a business
				or nonprofit qualifying under 52 IAC 4-3-4.
(7) An attorney qualifying under 52
				IAC 4-3-5.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-4 - "Central office" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15
Sec. 4.
"Central office" means the principal office of the
				  board located in Indianapolis, Indiana.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-5 - "Confidential information" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15
Sec. 5.
"Confidential information" means information that
				  should be excluded from public access and deemed confidential under
				  any applicable rule or statute.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-6 - "Consolidated appeal petition" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15
Sec. 6.
"Consolidated appeal petition" means a single
				  appeal petition that encompasses two (2) or more separate petitions
				  from the property tax assessment board of appeals or the
				  department.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-7 - "Consolidated hearing" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15
Sec. 7.
"Consolidated hearing" means a hearing where the
				  board has set multiple appeal petitions for hearing at the same
				  time.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-8 - "Department" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.1-30-1.1
Sec. 8.
"Department" means the department of local
				  government finance established under IC
				  6-1.1-30-1.1.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-9 - "Order" or "determination" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15-4; IC 6-1.1-15-5
Sec. 9.
(a) "Order" or "determination"
				means any action by the board or an administrative law
				judge.
(b) Any order or
				ruling by an administrative law judge is subject to review by the
				board.
(c) An order is
				final if the action of the board is:
(1) designated as final by the
				board;
(2) the final step
				in the administrative process before resort may be made to the
				judiciary; or
(3) deemed
				a final determination under IC 6-1.1-15-4 and IC
				6-1.1-15-5.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-10 - "Original determination" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15
Sec. 10.
"Original determination" means a determination of
				  assessed value, qualification for an exemption, credit, or deduction,
				  or other decision that is the subject of the appeal
				  petition.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-11 - "Party" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15
Sec. 11.
"Party" means a participant in a matter governed
				  by this article, which may include the following:
(1) The owner of the subject
				property.
(2) The
				taxpayer responsible for the property taxes payable on the subject
				property.
(3) The
				department.
(4) The
				county assessor.
(5) Any
				other party with a statutory or contractual right or duty to appeal
				or defend a determination, which may include a county
				auditor.
(6) A party
				authorized to file an amicus brief under IC 6-1.1-15-4.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-12 - "Property tax assessment board of appeals" or "PTABOA" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-15; IC 6-1.1-28-1
Sec. 12.
"Property tax assessment board of appeals" or
				  "PTABOA" means the county property tax assessment board of appeals
				  established under IC 6-1.1-28-1.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-13 - "Small claim" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-2-4; IC 6-1.1-15
Sec. 13.
"Small claim" means an appeal of assessed
				  valuation of tangible property where the parties have agreed to
				  operate under the small claims rules.
Indiana Administrative Code › Title 52 - INDIANA BOARD OF TAX REVIEW › Article 4 - PROCEDURES FOR APPEALS BEFORE THE INDIANA BOARD OF TAX REVIEW › Rule 2 - Definitions › Section 2-14 - "Trial rules" defined

Current through July 10, 2024
Authority: IC 6-1.5-6-2
Affected: IC 6-1.1-2-4; IC 6-1.1-15
Sec. 14.
"Trial rules" refers to the Indiana Rules of Trial
				  Procedure, as amended.