Interest on refunds or credits
Sec. 11. (a) If a taxpayer is entitled to a property tax refund or
credit because an assessment is decreased, the taxpayer shall also be
paid, or credited with, interest on the excess taxes that he paid at the
rate of four percent (4%) per annum.
(b) For purposes of this section and except as provided in
subsection (c), the interest shall be computed from the date on which
the taxes were paid or due, whichever is later, to the date of the
refund or credit.
(c) This subsection applies if a taxpayer who is entitled to a
refund or credit does not make a written request for the refund or
credit to the county auditor within forty-five (45) days after the final
determination of the county property tax assessment board of
appeals, the state board of tax commissioners, the department of
local government finance, the Indiana board, or the tax court that
entitles the taxpayer to the refund or credit. In the case of a taxpayer
described in this subsection, the interest shall be computed from the
date on which the taxes were paid or due to the date that is forty-five
(45) days after the final determination of the county property tax
assessment board of appeals, the state board of tax commissioners,
the department of local government finance, the Indiana board of tax
review, or the Indiana tax court. In any event, a property tax refund
or credit must be issued not later than ninety (90) days after the
request is received.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.198-2001,
SEC.93.
Last modified: May 28, 2006