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|State Tax Summary|
The Department of Local Government Finance adopted new assessment rules in 2002, following the Indiana Supreme Court decision on December 4, 1998. The Supreme Court declared Indiana’s property assessment rules were unconstitutional and required property taxes to be “fair and uniform.” As part of tax restructuring, the new modified rules makes Indiana a “market value” state. Almost all states are market value, which means the assessed values are based on what the home would sell for in a fair market. In 2001, Indiana local governments collected about $5 billion in property taxes. More property tax is collected in Indiana than local or state tax. The tax base of the Indiana property tax is the assessed market value of property. The total revenue collected is the levy. The property tax rate is the levy divided by the assessed value in each jurisdiction each year. Rates may change each year, and every tax collecting entity charges a different rate. The state of Indiana has personal exemptions for veterans, homeowners, disabled, seniors, low income, rehabbed property, solar energy and wind power devices. Property owners have one level of protest and can file a protest with the State Board of Tax Commissioners. The Chicago ASC (Area Service Center) provides tax service for Indiana.
- Indiana Department of Local Government Finance
- 100 North Senate Avenue
- Room N1058
- Indianapolis, Indiana 46204
- Voice (317) 232-3777
- FAX (317) 232-8779
- E-mail PropertyTaxInfo@dlgf.in.gov
Property tax calendar
Valuation Notice Date
Notices are sent by March 1 of the immediate following year
30 days from date of mailing of notice
Bill Payment Date
One billing; two installments: May 10 and November 10; All taxes are due and payable at least 15 days before the first installment economic loss date. Installments must be paid in equal amounts.
Property tax rates and dates
Annual assessment of real property
Classification of property
Residential real estate is Class I
Taxes are collected one year in arrears
January 1 through December 31
Level of government responsible for assessment
Every 4 years
Tax Calculation Rate
33 1/3% x True Cash Value = Taxable Value
A resident of the State of Indiana, that owns or is buying property with a mortgage or a contract mortgage, may qualify for the mortgage exemption. The value of the exemption may not exceed the amount of debt or one-half of the assessed valuation of the property.
Homestead Credit or Standard Deduction
A home and up to one acre of land may qualify for a homestead exemption if the homeowner’s principal place of residence was for the year proceeding March 1. The homestead exemption is either one half of assessed valuation or $2,000.00, whichever is less. The homestead credit cannot exceed 9% of the homeowner’s gross tax.
Over 65 Exemption
A taxpayer over the age of 65 as of December 31 in the prior year, with a combined adjusted income of less the $15,000, an owner of a property with an assessed value of no more than $19,000 and an owner of the property one year prior to March 1 of the current year, may be eligible for the over 65 deduction. If the assessed value is less than $1,000 the deduction will equal the amount of the assessment. A surviving spouse, over the age of 60 of a husband or wife who was over 65 at the time of death, may be eligible.
Blind or Disabled Exemption
A blind or disabled homeowner, that owns property used as a principal residence, may be eligible for a $2000 deduction. The gross taxable income must be less than $13,000 and proof of disability must be a written statement from a physician, by records of a state/county Department of Public Welfare, or the Department of Human Services. The amount of the deduction would be the assessment, if the assessed value is less than $2,000.
Totally Disabled Veteran
A totally disabled veteran with a disability unrelated to military service and who owns property, with an assessed value that does not exceed $16,000 may qualify for a $2,000 deduction. A veteran’s surviving spouse or a veteran who is at least 62 years of age and has a disability of at least 10% may also qualify for a deduction.
Veteran with Service Connected Disability
A veteran who owns property with a service-connected disability of 10% or more, may qualify for a $4,000 deduction. A veteran’s surviving spouse may also qualify.
Solar, Wind, Hydroelectric and Geothermal Device
To qualify a claimant must own real property, real or annually assessed mobile or manufactured home and the qualifying device is installed. The maximum amount allowed is the assessed value (AV) of the property with the device, less the AV without the device; in other words, the deduction equals the value of the device.
Property of public schools, personal and real property of manual labor schools, technical high schools and trade schools are exempt from property tax.
Government and Public Property
Property of the United States and its agencies, the Toll Road Authority, the County Hospital Building Authorities’ property, property owned by the Bureau of Motor Vehicles Commission and qualifying bridges are exempt from property tax.
Tax Collector and Officials
The county treasurer is the ex-officio collector in all counties. County Assessors maintain and set property valuations. The County Auditor certifies property valuations. The County Treasurer collects current and delinquent property tax.
Specific deduction claim forms are available from the county auditor or the Indiana Department of Local Government Finance website http://www.in.gov/icpr/webfile/formsdiv/dlgf.html
- State of Indiana
- State Board of Tax Commissioners
- Real Estate Division
- 100 North Senate Avenue
- Indianapolis, Indiana 46204
Forms due dates
Applications for deductions against real property must be filed during the twelve months before June 11 to be effective for taxes payable in the following year. The filing deadline for deduction applications for mobile homes and manufactured homes that are not assessed as real property is the twelve months before March 31, unless noted below.
All deductions for real property require that the ownership must be recorded as of March 1 of the assessment year for taxes payable the following year.
Manufactured and mobile homes must be owned by January 15 to be eligible for the deductions to be applied to the tax bill for that year.
State Assessor’s Manual
- Indiana Real Estate Assessment Manual
- State Board of Tax Commission
- 201 State Office Building
- Indianapolis, IN 46204
- (317) 232-3786
- Price $55.00
How property tax determined
Residential property in Indiana is assessed at 33 1/3 % of market value and the assessor determines the fair market value. The assessor uses one method:
Use other comparable properties that have sold recently, determine the most probable sales price of the subject property.
Property owners have one level of protest if they do not agree with the assessed value. Property owner can file a protest with the State Board of Tax Commissioners by March 31 of any year that is not a year in which general reassessment of real property becomes effective. The petition must state the specific reason for reassessment and be signed by assessor where the property is located. The owner of the parcel must sign and verify the petition. The State Board of Tax Commissioners gives notice and holds a hearing on the petition.
Additional tax classifications
Personal property tax
Personal property is Class II and taxed at 33 1/3 % x True Cash Value.
Commercial property tax
Commercial property is Class III. Public Utilities is Class III. Assessment rate is not available
Additional tax bills and charges
When an error is found on the original tax statement or when property owners go before the Board of Review, resulting in tax increases or decreases, a correct bill is issued when the corrections are made.
Tax Increment Financing (TIF) taxes can be assessed by the county board for specific purposes as deemed necessary. Some counties combine TIF taxes with the tax bill; other counties have a separate billing.
Penalty and Interest charges
10% for each installment missed.
Delinquent balances are applied to subsequent bills. Indiana does not send notices when property taxes are delinquent.
Current Legislation and Pending Issues
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