Indiana HB1210 amends various tax provisions, including property tax exemptions and allocation rules.

Indiana HB1210 amends the Indiana Code to adjust property tax exemptions and allocation rules. It increases the property tax exemption for model residences and residences in inventory from 50% to 75% of the assessed value. It also modifies the allocation of property tax proceeds in various redevelopment and military base reuse areas, specifying how these taxes should be distributed among taxing units. Additionally, it updates the definition of "base assessed value" and adjusts the procedures for reassessment and annual adjustments.

Indiana HB1210 amends various tax provisions, including property tax exemptions and allocation rules.

Indiana HB1210 amends the Indiana Code to adjust property tax exemptions and allocation rules. It increases the property tax exemption for model residences and residences in inventory from 50% to 75% of the assessed value. It also modifies the allocation of property tax proceeds in various redevelopment and military base reuse areas, specifying how these taxes should be distributed among taxing units. Additionally, it updates the definition of "base assessed value" and adjusts the procedures for reassessment and annual adjustments.