Property Tax Alert: Indiana

November 2005

For Indiana real property tax purposes, the next general reassessment of real property will begin July 1, 2009 (previously, July 1, 2007) and will occur every fifth year (previously, fourth year) thereafter. A system for annually adjusting the assessed value of real property to account for changes in value in the years since a general reassessment took effect must be applied beginning with the 2006 assessment date (previously, the 2005 assessment date). For property tax assessments in 2005 and 2006, the statewide agricultural land base rate value of $880 per acre is substituted for the base rate value of $1050 per acre in the real property assessment guidelines.

Please contact Rash & Associates for more information.