IC 6-1.1-34
Chapter 34. Determination of School Assessment Ratios and
Adjustment Factors
IC 6-1.1-34-1 Department of local government finance computation of new
assessment ratios for certain school corporations; publication of
new ratios
Sec. 1. In the year after a general assessment of real property
becomes effective, the department of local government finance shall
compute a new assessment ratio for each school corporation located
in a county in which a supplemental county levy is imposed under
IC 20-45-7 or IC 20-45-8. In all other years, the department shall
compute a new assessment ratio for such a school corporation 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; P.L.182-2009(ss), SEC.170.
IC 6-1.1-34-2 Computation of school corporation assessment ratio
Sec. 2. A school corporation's assessment ratio for a particular
year equals:
(1) the total assessed valuation of the property within the school
district; divided by
(2) the total true tax value which the department of local
government finance determines would result if the property
within the school district were valued in the manner provided
by law. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.27; P.L.90-2002, SEC.238.
IC 6-1.1-34-3
Repealed
(Repealed by P.L.182-2009(ss), SEC.463.)
IC 6-1.1-34-4 Random samplings of assessed values and true tax values
Sec. 4. In order to compute the assessment ratio for a school
corporation, the department of local government finance shall first
make a random sampling of the assessed values and true tax values
of the following classes of real and personal property:
(1) Residential.
(2) Farm.
(3) Commercial.
(4) Industrial. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.29; P.L.90-2002, SEC.240.
IC 6-1.1-34-5 Weighing classes of property within school district
Sec. 5. When computing the assessment ratio for a school
corporation, the department of local government finance shall weight
the ratio to reflect the relative importance of each class of property
within the school district. Before calculating a school corporation's
assessment ratio, the department of local government finance shall
discuss the weight to be given to each class of property with:
(1) residents of the school district; and
(2) elected officials or other individuals who are familiar with
the economic base of the school district. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.241.
IC 6-1.1-34-6 Notice of new assessment ratio
Sec. 6. (a) After the department of local government finance
calculates a new assessment ratio for a school corporation and before
publishing the new ratio, the department shall send a notice of the
new assessment ratio to the county auditor, the county assessor, and
the governing body of the school corporation. The department of
local government finance shall send these notices before March 2 of
each year in which the department calculates a new assessment ratio
for the school corporation.
(b) Within thirty (30) days after notification of a new assessment
ratio, the county auditor, the county assessor, or the governing body
of the school corporation may:
(1) examine and verify the data of the department of local
government finance; and
(2) make suggestions concerning the values established by the
department.
(c) Before April 15 of each year in which the department of local
government finance calculates a new assessment ratio for the school
corporation, the department shall publish the new assessment ratio. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.273-1999,
SEC.130; P.L.90-2002, SEC.242.
IC 6-1.1-34-7 Department of local government finance computation of new
adjustment factors for school corporations; notice of new ratio;
designated adjustment factor applies under certain circumstances
Sec. 7. (a) Each year in which the department of local government
finance computes a new assessment ratio for a school corporation,
the department shall also compute a new adjustment factor for the
school corporation. If the school corporation's assessment ratio for
a year is more than ninety-nine percent (99%) but less than one
hundred one percent (101%) of the state average assessment ratio for
that year, the school corporation's adjustment factor is the number
one (1). In all other cases, the school corporation's adjustment factor
equals (1) the state average assessment ratio for a year, divided by
(2) the school corporation's assessment ratio for that year. The
department of local government finance shall notify the school
corporation of its new adjustment factor before March 2 of the year
in which the department calculates the new adjustment factor.
(b) This subsection applies in a calendar year after which a
general reassessment takes effect. If the department of local
government finance has not computed a new assessment ratio for a
school corporation, the school corporation's adjustment factor is the
number one (1) until the department of local government finance
notifies the school corporation of the school corporation's new
adjustment factor. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.273-1999,
SEC.131; P.L.90-2002, SEC.243; P.L.224-2003, SEC.138;
P.L.182-2009(ss), SEC.171.
IC 6-1.1-34-8 State funds; distribution formula
Sec. 8. For purposes of computing the amount of state funds to be
distributed to a school corporation under a formula in which adjusted
assessed valuation is a factor, the school corporation's adjusted
assessed valuation, except as otherwise specifically provided by law,
equals the product of (1) the assessed valuation of the property
within the school district, multiplied by (2) the school corporation's
current adjustment factor. (Formerly: Acts 1975, P.L.47, SEC.1.)
IC 6-1.1-34-9 Department of local government finance; powers and duties
Sec. 9. In order to perform the duties assigned to it under this
chapter, the department of local government finance:
(1) shall conduct continuing studies of all property which is
subject to assessment in this state;
(2) may request access to all local and state official records;
(3) may secure information from the federal government or
from public or private agencies;
(4) may inspect a person's books, records, or property if the
item is relevant to information which the department needs in
order to implement this chapter; and
(5) may adopt appropriate forms and procedures. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.244.
IC 6-1.1-34-10 Withholding access to official records
Sec. 10. If a state or local official or employee does not give the
department of local government finance access to official records
which the department has asked to examine under section 9(2) of this
chapter, the official's or employee's action is evidence of misconduct
in the office or position which the official or employee holds. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.245.
IC 6-1.1-34-11 Confidential information
Sec. 11. Information which the department of local government
finance has obtained from the federal government or a public agency
under section 9(3) of this chapter is subject to the provider's rules
and regulations, if any, which concern the confidential nature of the
information. In addition, the information compiled by the department
under this chapter is confidential until publication of the assessment
ratio and then loses its confidential character only to the extent that
it is used in determining the ratio. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.246.
IC 6-1.1-34-12
Repealed
(Repealed by P.L.198-2001, SEC.122.)
IC 6-1.1-34
Chapter 34. Determination of School Assessment Ratios and
Adjustment Factors
IC 6-1.1-34-1 Department of local government finance computation of new
assessment ratios for certain school corporations; publication of
new ratios
Sec. 1. In the year after a general assessment of real property
becomes effective, the department of local government finance shall
compute a new assessment ratio for each school corporation located
in a county in which a supplemental county levy is imposed under
IC 20-45-7 or IC 20-45-8. In all other years, the department shall
compute a new assessment ratio for such a school corporation 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; P.L.182-2009(ss), SEC.170.
IC 6-1.1-34-2 Computation of school corporation assessment ratio
Sec. 2. A school corporation's assessment ratio for a particular
year equals:
(1) the total assessed valuation of the property within the school
district; divided by
(2) the total true tax value which the department of local
government finance determines would result if the property
within the school district were valued in the manner provided
by law. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.27; P.L.90-2002, SEC.238.
IC 6-1.1-34-3
Repealed
(Repealed by P.L.182-2009(ss), SEC.463.)
IC 6-1.1-34-4 Random samplings of assessed values and true tax values
Sec. 4. In order to compute the assessment ratio for a school
corporation, the department of local government finance shall first
make a random sampling of the assessed values and true tax values
of the following classes of real and personal property:
(1) Residential.
(2) Farm.
(3) Commercial.
(4) Industrial. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.29; P.L.90-2002, SEC.240.
IC 6-1.1-34-5 Weighing classes of property within school district
Sec. 5. When computing the assessment ratio for a school
corporation, the department of local government finance shall weight
the ratio to reflect the relative importance of each class of property
within the school district. Before calculating a school corporation's
assessment ratio, the department of local government finance shall
discuss the weight to be given to each class of property with:
(1) residents of the school district; and
(2) elected officials or other individuals who are familiar with
the economic base of the school district. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.241.
IC 6-1.1-34-6 Notice of new assessment ratio
Sec. 6. (a) After the department of local government finance
calculates a new assessment ratio for a school corporation and before
publishing the new ratio, the department shall send a notice of the
new assessment ratio to the county auditor, the county assessor, and
the governing body of the school corporation. The department of
local government finance shall send these notices before March 2 of
each year in which the department calculates a new assessment ratio
for the school corporation.
(b) Within thirty (30) days after notification of a new assessment
ratio, the county auditor, the county assessor, or the governing body
of the school corporation may:
(1) examine and verify the data of the department of local
government finance; and
(2) make suggestions concerning the values established by the
department.
(c) Before April 15 of each year in which the department of local
government finance calculates a new assessment ratio for the school
corporation, the department shall publish the new assessment ratio. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.273-1999,
SEC.130; P.L.90-2002, SEC.242.
IC 6-1.1-34-7 Department of local government finance computation of new
adjustment factors for school corporations; notice of new ratio;
designated adjustment factor applies under certain circumstances
Sec. 7. (a) Each year in which the department of local government
finance computes a new assessment ratio for a school corporation,
the department shall also compute a new adjustment factor for the
school corporation. If the school corporation's assessment ratio for
a year is more than ninety-nine percent (99%) but less than one
hundred one percent (101%) of the state average assessment ratio for
that year, the school corporation's adjustment factor is the number
one (1). In all other cases, the school corporation's adjustment factor
equals (1) the state average assessment ratio for a year, divided by
(2) the school corporation's assessment ratio for that year. The
department of local government finance shall notify the school
corporation of its new adjustment factor before March 2 of the year
in which the department calculates the new adjustment factor.
(b) This subsection applies in a calendar year after which a
general reassessment takes effect. If the department of local
government finance has not computed a new assessment ratio for a
school corporation, the school corporation's adjustment factor is the
number one (1) until the department of local government finance
notifies the school corporation of the school corporation's new
adjustment factor. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.273-1999,
SEC.131; P.L.90-2002, SEC.243; P.L.224-2003, SEC.138;
P.L.182-2009(ss), SEC.171.
IC 6-1.1-34-8 State funds; distribution formula
Sec. 8. For purposes of computing the amount of state funds to be
distributed to a school corporation under a formula in which adjusted
assessed valuation is a factor, the school corporation's adjusted
assessed valuation, except as otherwise specifically provided by law,
equals the product of (1) the assessed valuation of the property
within the school district, multiplied by (2) the school corporation's
current adjustment factor. (Formerly: Acts 1975, P.L.47, SEC.1.)
IC 6-1.1-34-9 Department of local government finance; powers and duties
Sec. 9. In order to perform the duties assigned to it under this
chapter, the department of local government finance:
(1) shall conduct continuing studies of all property which is
subject to assessment in this state;
(2) may request access to all local and state official records;
(3) may secure information from the federal government or
from public or private agencies;
(4) may inspect a person's books, records, or property if the
item is relevant to information which the department needs in
order to implement this chapter; and
(5) may adopt appropriate forms and procedures. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.244.
IC 6-1.1-34-10 Withholding access to official records
Sec. 10. If a state or local official or employee does not give the
department of local government finance access to official records
which the department has asked to examine under section 9(2) of this
chapter, the official's or employee's action is evidence of misconduct
in the office or position which the official or employee holds. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.245.
IC 6-1.1-34-11 Confidential information
Sec. 11. Information which the department of local government
finance has obtained from the federal government or a public agency
under section 9(3) of this chapter is subject to the provider's rules
and regulations, if any, which concern the confidential nature of the
information. In addition, the information compiled by the department
under this chapter is confidential until publication of the assessment
ratio and then loses its confidential character only to the extent that
it is used in determining the ratio. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.246.
IC 6-1.1-34-12
Repealed
(Repealed by P.L.198-2001, SEC.122.)
IC 6-1.1-34
Chapter 34. Determination of School Assessment Ratios and
Adjustment Factors
IC 6-1.1-34-1 Department of local government finance computation of new
assessment ratios for certain school corporations; publication of
new ratios
Sec. 1. In the year after a general assessment of real property
becomes effective, the department of local government finance shall
compute a new assessment ratio for each school corporation located
in a county in which a supplemental county levy is imposed under
IC 20-45-7 or IC 20-45-8. In all other years, the department shall
compute a new assessment ratio for such a school corporation 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; P.L.182-2009(ss), SEC.170.
IC 6-1.1-34-2 Computation of school corporation assessment ratio
Sec. 2. A school corporation's assessment ratio for a particular
year equals:
(1) the total assessed valuation of the property within the school
district; divided by
(2) the total true tax value which the department of local
government finance determines would result if the property
within the school district were valued in the manner provided
by law. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.27; P.L.90-2002, SEC.238.
IC 6-1.1-34-3
Repealed
(Repealed by P.L.182-2009(ss), SEC.463.)
IC 6-1.1-34-4 Random samplings of assessed values and true tax values
Sec. 4. In order to compute the assessment ratio for a school
corporation, the department of local government finance shall first
make a random sampling of the assessed values and true tax values
of the following classes of real and personal property:
(1) Residential.
(2) Farm.
(3) Commercial.
(4) Industrial. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.24-1986,
SEC.29; P.L.90-2002, SEC.240.
IC 6-1.1-34-5 Weighing classes of property within school district
Sec. 5. When computing the assessment ratio for a school
corporation, the department of local government finance shall weight
the ratio to reflect the relative importance of each class of property
within the school district. Before calculating a school corporation's
assessment ratio, the department of local government finance shall
discuss the weight to be given to each class of property with:
(1) residents of the school district; and
(2) elected officials or other individuals who are familiar with
the economic base of the school district. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.241.
IC 6-1.1-34-6 Notice of new assessment ratio
Sec. 6. (a) After the department of local government finance
calculates a new assessment ratio for a school corporation and before
publishing the new ratio, the department shall send a notice of the
new assessment ratio to the county auditor, the county assessor, and
the governing body of the school corporation. The department of
local government finance shall send these notices before March 2 of
each year in which the department calculates a new assessment ratio
for the school corporation.
(b) Within thirty (30) days after notification of a new assessment
ratio, the county auditor, the county assessor, or the governing body
of the school corporation may:
(1) examine and verify the data of the department of local
government finance; and
(2) make suggestions concerning the values established by the
department.
(c) Before April 15 of each year in which the department of local
government finance calculates a new assessment ratio for the school
corporation, the department shall publish the new assessment ratio. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.273-1999,
SEC.130; P.L.90-2002, SEC.242.
IC 6-1.1-34-7 Department of local government finance computation of new
adjustment factors for school corporations; notice of new ratio;
designated adjustment factor applies under certain circumstances
Sec. 7. (a) Each year in which the department of local government
finance computes a new assessment ratio for a school corporation,
the department shall also compute a new adjustment factor for the
school corporation. If the school corporation's assessment ratio for
a year is more than ninety-nine percent (99%) but less than one
hundred one percent (101%) of the state average assessment ratio for
that year, the school corporation's adjustment factor is the number
one (1). In all other cases, the school corporation's adjustment factor
equals (1) the state average assessment ratio for a year, divided by
(2) the school corporation's assessment ratio for that year. The
department of local government finance shall notify the school
corporation of its new adjustment factor before March 2 of the year
in which the department calculates the new adjustment factor.
(b) This subsection applies in a calendar year after which a
general reassessment takes effect. If the department of local
government finance has not computed a new assessment ratio for a
school corporation, the school corporation's adjustment factor is the
number one (1) until the department of local government finance
notifies the school corporation of the school corporation's new
adjustment factor. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.273-1999,
SEC.131; P.L.90-2002, SEC.243; P.L.224-2003, SEC.138;
P.L.182-2009(ss), SEC.171.
IC 6-1.1-34-8 State funds; distribution formula
Sec. 8. For purposes of computing the amount of state funds to be
distributed to a school corporation under a formula in which adjusted
assessed valuation is a factor, the school corporation's adjusted
assessed valuation, except as otherwise specifically provided by law,
equals the product of (1) the assessed valuation of the property
within the school district, multiplied by (2) the school corporation's
current adjustment factor. (Formerly: Acts 1975, P.L.47, SEC.1.)
IC 6-1.1-34-9 Department of local government finance; powers and duties
Sec. 9. In order to perform the duties assigned to it under this
chapter, the department of local government finance:
(1) shall conduct continuing studies of all property which is
subject to assessment in this state;
(2) may request access to all local and state official records;
(3) may secure information from the federal government or
from public or private agencies;
(4) may inspect a person's books, records, or property if the
item is relevant to information which the department needs in
order to implement this chapter; and
(5) may adopt appropriate forms and procedures. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.244.
IC 6-1.1-34-10 Withholding access to official records
Sec. 10. If a state or local official or employee does not give the
department of local government finance access to official records
which the department has asked to examine under section 9(2) of this
chapter, the official's or employee's action is evidence of misconduct
in the office or position which the official or employee holds. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.245.
IC 6-1.1-34-11 Confidential information
Sec. 11. Information which the department of local government
finance has obtained from the federal government or a public agency
under section 9(3) of this chapter is subject to the provider's rules
and regulations, if any, which concern the confidential nature of the
information. In addition, the information compiled by the department
under this chapter is confidential until publication of the assessment
ratio and then loses its confidential character only to the extent that
it is used in determining the ratio. (Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.246.
IC 6-1.1-34-12
Repealed
(Repealed by P.L.198-2001, SEC.122.)
