Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM
Rule 2 - Definitions and Abbreviations
Section 2-8 - "Assessment system" defined
Universal Citation: 50 IN Admin Code 2-8
Current through September 18, 2024
Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-5.5; IC 6-1.1-31.5
Sec. 8.
(a) "Assessment system" means all data and functions necessary to the computation of an assessed value for every real estate parcel or an item of personal property in any of the following:
(1) A
county.
(2) A township.
(3) A taxing district.
(4) A taxing unit.
(b) The assessment system described in subsection (a) includes the following:
(1)
Recording data on new construction or improvements.
(2) Acquiring descriptive data on all
property.
(3) Determining the
following:
(A) Land values.
(B) Improvement values.
(C) Annually assessed mobile home
values.
(4) Producing
required reports.
(5) Processing
market information, including, but not limited to, the following:
(A) Information contained on the sales
disclosure form required by IC 6-1.1-5.5.
(B) Appraisal information.
(C) Income and expense data.
(D) Cost information.
(6) Calculating sales ratio study.
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