Version a
Use of reassessment fund; soil maps; investment of fund; interest
Note: This version of section amended by P.L.228-2005, SEC.10.
See also following version of this section amended by P.L.88-2005,
SEC.7.
Sec. 28.5. (a) Money assigned to a property reassessment fund
under section 27.5 of this chapter may be used only to pay the costs
of:
(1) the general reassessment of real property, including the
computerization of assessment records;
(2) payments to county assessors, members of property tax
assessment boards of appeals, or assessing officials under
IC 6-1.1-35.2;
(3) the development or updating of detailed soil survey data by
the United States Department of Agriculture or its successor
agency;
(4) the updating of plat books;
(5) payments for the salary of permanent staff or for the
contractual services of temporary staff who are necessary to
assist county assessors, members of a county property tax
assessment board of appeals, and assessing officials;
(6) making annual adjustments under section 4.5 of this chapter;
and
(7) the verification under 50 IAC 21-3-2 of sales disclosure
forms forwarded to the county assessor under IC 6-1.1-5.5-3.
(b) All counties shall use modern, detailed soil maps in the
general reassessment of agricultural land.
(c) The county treasurer of each county shall, in accordance with
IC 5-13-9, invest any money accumulated in the property
reassessment fund. Any interest received from investment of the
money shall be paid into the property reassessment fund.
As added by P.L.198-2001, SEC.20. Amended by P.L.228-2005,
SEC.10.
Last modified: May 28, 2006