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SB 45 IN

Elimination of annual adjustments to assessed values.

IN · session 2023 · Senate · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 9, 2023

Latest action (Jan 9, 2023) First reading: referred to Committee on Tax and Fiscal Policy

Summary

Eliminates the annual adjustments (or "trending") to assessed values of certain real property for assessment dates beginning after December 31, 2023. Retains the provisions in current law that require four year cyclical reassessments. Allows a reassessment plan for the four year cyclical reassessments to include trending factors in the plan. Does not eliminate the annual adjustment for agricultural land. Makes conforming changes. Makes technical corrections.

Sponsor (1)

Action history (2)
  1. Jan 9, 2023 Authored by Senator Niemeyer · upper
  2. Jan 9, 2023 First reading: referred to Committee on Tax and Fiscal Policy · upper
Subjects
PROPERTY TAXES, Assessments, Notices, and Penalties

Text versions (1)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Introduced Senate Bill (S) · Jan 4, 2023 · PDF

Full text

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