Indiana Senate Bill 145
Session 2022
Property tax matters.
Became Law
Signed by Governor on Mar 10, 2022
Sponsors
3 Sponsors
Brian Buchanan
Linda Rogers
Timothy Brown
First Action
Jan 4, 2022
Latest Action
Mar 10, 2022
Origin Chamber
Senate
Type
Bill
Bill Number
145
State
Indiana
Session
2022
Brian Buchanan
grade
Author
Linda Rogers
grade
Author
Timothy Brown
grade
Sponsor
Cosponsor
Coauthor
Coauthor
Coauthor
Coauthor
Cosponsor
Coauthor
Coauthor
Coauthor
Coauthor
Senate votes are unavailable for this bill.
Summary
Provides that the true tax value of commercial real property commercial property with a structure, or a portion thereof, that: (1) is at least 100,000 square feet in area; (2) is used for retail purposes; and (3) is occupied by a single retailer; shall be determined by application of the cost approach. Provides that the application of the cost approach requirement is not applicable if the property was: (1) vacated by the original occupant for which the property was constructed; (2) constructed more than five years prior to the assessment date; or (3) substantially and adversely impacted by a change in a roadway or traffic pattern. Provides that estimates of depreciation and obsolescence shall not be based on data derived from the sales comparison or income capitalization approaches. Requires the department of local government finance (department) to establish a standard construction cost per square foot for the purpose of applying the cost approach. Requires the department to update the standard construction cost per square foot annually. Provides that when requesting a review, a taxpayer may present an appraisal based on the cost approach as evidence that the actual construction cost was lower than the department's determined standard construction cost per square foot that was used to assess the property. Provides that the parties to any appeal may enter into a written agreement to stipulate to the true tax value of the property. Provides that the fiscal officer of the county may establish a separate account for the tax receipts that are attributable to the property tax assessment that is the subject of review.
Enrolled Senate Bill (S)
March 2, 2022
Introduced Senate Bill (S)
December 30, 2021
Senate Bill (S)
January 25, 2022
Senate Bill (S)
January 26, 2022
Senate Bill (H)
February 17, 2022
Fiscal Note: SB0145.05.ENRH.FN001
03/10/2022
Senate
Public Law 54
03/10/2022
Office of the Governor
Signed by the Governor
03/09/2022
Senate
Signed by the President of the Senate
03/08/2022
House
Signed by the Speaker
03/07/2022
Senate
Signed by the President Pro Tempore
03/02/2022
Senate
Senate concurred in House amendments; Roll Call 318: yeas 47, nays 0
02/23/2022
Senate
Motion to concur filed
02/23/2022
House
Returned to the Senate with amendments
02/22/2022
House
Third reading: passed; Roll Call 233: yeas 92, nays 0
02/21/2022
House
Second reading: ordered engrossed
02/17/2022
House
Committee report: amend do pass, adopted
02/07/2022
House
First reading: referred to Committee on Ways and Means
02/01/2022
Senate
Referred to the House
02/01/2022
Senate
Senators Ford J.D. and Melton added as coauthors
01/31/2022
Senate
Cosponsors: Representatives Schaibley and Thompson
01/31/2022
Senate
House sponsor: Representative Brown T
01/31/2022
Senate
Third reading: passed; Roll Call 107: yeas 49, nays 0
01/31/2022
Senate
Senator Raatz added as coauthor
01/31/2022
Senate
Senators Qaddoura and Niemeyer added as coauthors
01/27/2022
Senate
Second reading: ordered engrossed
01/25/2022
Senate
Senator Randolph added as coauthor
01/25/2022
Senate
Committee report: amend do pass, adopted
01/04/2022
Senate
First reading: referred to Committee on Tax and Fiscal Policy
01/04/2022
Senate
Authored by Senators Buchanan and Rogers
01/04/2022
Senate
Coauthored by Senators Boots and Baldwin
Sources
IN Legislature
Open States
Record Created
Dec 31, 2021 6:28:41 AM
Record Updated
Jul 22, 2022 6:05:39 PM