SB 307 IN

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Provides that the true tax value of commercial real property used for retail purposes that is occupied by the original owner or by a tenant for which the improvement was built shall be determined by the cost approach for the first 10 years of occupancy of the property, less normal depreciation and normal obsolescence under the rules and guidelines of the department of local government finance. Provides that the taxpayer and the assessing official are required to participate in mandatory mediation of an appeal of an assessment of the commercial real property, instead of the preliminary informal meeting process under current law. Requires the county property tax assessment board of appeals (county board) to designate one member of the county board to serve as the mediator for the mediation conference, and specifies certain procedures that apply. Provides that, if a mandatory mediation conference is not held due to the failure of a party or the party's representative to appear, the county board's determination of the assessment may not be appealed to the Indiana board of tax review by the party that failed to appear at the mediation conference. Provides that a taxpayer shall (not may) enter into a written agreement with a redevelopment commission in which the taxpayer waives review of any assessment of the taxpayer's property in an allocation area during the term of any bond or lease obligations that are payable from allocated property taxes, unless the redevelopment commission waives the requirement in writing. Provides that a county fiscal body may adopt an ordinance to provide that the county assessor be reimbursed for legal costs (in addition to other specified costs under current law) incurred by the county assessor in defending an appeal that is uncommon and infrequent in the normal course of defending appeals.

• Brian Buchanan Republican · author
• Philip Boots · author
• Eric Bassler Republican · author

1. Jan 11, 2021 Coauthored by Senators Charbonneau and Buck · upper
2. Jan 11, 2021 Authored by Senators Buchanan and Boots · upper
3. Jan 11, 2021 First reading: referred to Committee on Tax and Fiscal Policy · upper
4. Jan 25, 2021 Senator Bassler added as third author · upper
5. Jan 25, 2021 Senator Ford J.D. added as coauthor · upper

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 11, 2021 · PDF