(UNDATED) - Indiana counties are preparing to begin the state-required general reassessment of property.
The process begins July 1, 2009, and must be completed by March 1, 2011, for taxes payable in 2012. The State Department of Local Government Finance has set target dates for completing portions of the work.
Barry Wood is the director of the assessment division for the Department of Local Government Finance. He says if a county is hiring an outside firm to perform the reassessment of property, the third party appraiser's contract must be signed by mid-April and DLGF must be a party to that agreement.
Wood expects about a dozen county assessors and their staffs will do all the reassessment work, while another half-dozen or so will do residential properties in-house and contract out commercial or agricultural land.
But a bill (SB 561) moving through the General Assembly may delay the start of the process by one year. There also is a push to require 20-percent of parcels be done each year, so all property in a county has been reassessed after five-years.
DLGF Assessment Division Director Barry Wood says experience plays a part in whether an outside firm is hired to do a county's reassessment.
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