True tax value; factors considered by local assessors
Sec. 5. (a) Subject to this article, the rules adopted by the
department of local government finance are the basis for determining
the true tax value of tangible property.
(b) Local assessing officials, members of the county property tax
assessment board of appeals, and county assessors shall:
(1) comply with the rules, appraisal manuals, bulletins, and
directives adopted by the department of local government
finance;
(2) use the property tax forms, property tax returns, and notice
forms prescribed by the department; and
(3) collect and record the data required by the department.
(c) In assessing tangible property, the township assessors,
members of the county property tax assessment board of appeals, and
county assessors may consider factors in addition to those prescribed
by the department of local government finance if the use of the
additional factors is first approved by the department. Each township
assessor, of the county property tax assessment board of appeals, and
the county assessor shall indicate on his records for each individual
assessment whether:
(1) only the factors contained in the department's rules, forms,
and returns have been considered; or
(2) factors in addition to those contained in the department's
rules, forms, and returns have been considered.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.22; P.L.6-1997, SEC.103; P.L.90-2002, SEC.221; P.L.1-2004,
SEC.39 and P.L.23-2004, SEC.42.
Last modified: May 28, 2006