"Assessed value" or "assessed valuation" defined
Sec. 3. (a) Except as provided in subsection (b), "assessed value"
or "assessed valuation" means an amount equal to:
(1) for assessment dates before March 1, 2001, thirty-three and
one-third percent (33 1/3%) of the true tax value of property;
and
(2) for assessment dates after February 28, 2001, the true tax
value of property.
(b) For purposes of calculating a budget, rate, or levy under
IC 6-1.1-17, IC 6-1.1-18, IC 6-1.1-18.5, IC 6-1.1-19, IC 6-1.1-20,
IC 21-2-11.5, and IC 21-2-15, "assessed value" or "assessed
valuation" does not include the assessed value of tangible property
excluded and kept separately on a tax duplicate by a county auditor
under IC 6-1.1-17-0.5.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.2; P.L.6-1997, SEC.6; P.L.291-2001, SEC.204.
Last modified: May 28, 2006