(b) The department of local government finance shall reassess distributable property and shall certify the reassessment to the county auditor of each county in which the property is taxable if:

1. (1) the Indiana board:

   1. (A) sets aside the department's original assessment and orders the department to reassess the distributable property; or
   2. (B) refers the matter to the department under section 32 of this chapter with instructions to make another assessment; and

2. (2) the decision of:

   1. (A) the Indiana board is not appealed to the tax court; or
   2. (B) the tax court in which the matter was referred to the department under section 32 of this chapter is not appealed to the supreme court.

(c) If the tax court sets aside the Indiana board's final determination and the Indiana board reassesses distributable property, the Indiana board shall certify the reassessment to the county auditor of each county in which the property is taxable if the decision of the tax court is not appealed to the supreme court.

[Pre-1975 Property Tax Recodification Citation: 6-1-44-14 part.]

Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.291-1985, SEC.4; P.L.90-2002, SEC.82; P.L.98-2004, SEC.70.