Indiana HB1139 amends property assessment laws, requiring reassessment plans and ensuring agricultural land is assessed based on use, not ownership.

Indiana HB1139 modifies property assessment procedures, mandating county assessors to submit reassessment plans to the Department of Local Government Finance (DLGF) for approval. These plans must divide real property into four groups, each containing approximately 25% of parcels within each class of real property. The reassessment of each group must begin on May 1 of a year and be completed by January 1 of the following year. The bill also stipulates that land is assessed as agricultural only when it is devoted to agricultural use, regardless of ownership.

Indiana HB1139 amends property assessment laws, requiring reassessment plans and ensuring agricultural land is assessed based on use, not ownership.

Indiana HB1139 modifies property assessment procedures, mandating county assessors to submit reassessment plans to the Department of Local Government Finance (DLGF) for approval. These plans must divide real property into four groups, each containing approximately 25% of parcels within each class of real property. The reassessment of each group must begin on May 1 of a year and be completed by January 1 of the following year. The bill also stipulates that land is assessed as agricultural only when it is devoted to agricultural use, regardless of ownership.