Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 5.1 - PUBLIC UTILITY ASSESSMENT
Rule 5 - Valuation of Real Property and Use of Other Factors
Section 5-1 - Valuation of real property

Universal Citation: 50 IN Admin Code 5-1

Current through September 18, 2024

Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8

Sec. 1.

(a) Under IC 6-1.1-8, the department shall make an annual assessment of each utility and railroad. The valuation made by the department includes all real, personal, and distributable property, wherever located, and as applicable under the department's Real Property Assessment Manual and Real Property Assessment Guidelines incorporated by reference in 50 IAC 2.4-1-2. Since locally assessed real property is contained within the unit valuation, this property is subtracted from the unit value, and the remainder, the distributable property, is distributed by the department.

(b) The township assessor, or the county assessor if there is no township assessor for the township, shall value locally assessed real property under 50 IAC 2.4.

(c) In determining whether property is locally assessed real property, locally assessed personal property, or distributable property, the examples provided in Chapter 9 of the Real Property Assessment Guidelines are instructive.

Disclaimer: These regulations may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.