New assessment ratios
Sec. 1. Each year in which a general assessment of real property
becomes effective, the department of local government finance shall
compute a new assessment ratio for each school corporation and a
new state average assessment ratio. In all other years, the department
shall compute a new assessment ratio for a school corporation and a
new state average assessment ratio if the department finds that there
has been sufficient reassessment or adjustment of one (1) or more
classes of property in the school district. When the department of
local government finance computes a new assessment ratio for a
school corporation, the department shall publish the new ratio.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.237; P.L.246-2005, SEC.68.
Last modified: May 28, 2006