(a) The Indiana board shall recommend that the parties settle or mediate any case pending before the board as of May 1, 2015, that has not yet received a hearing, if:
- (1) the taxpayer's appraisal asserts a value that is more than twenty-five percent (25%) lower than the value evidenced by the assessing official applying the cost approach, less depreciation and obsolescence under the rules and guidelines of the department of local government finance; and
- (2) the taxpayer or the taxpayer's representative appeared before the county property tax assessment board of appeals when the appeal was heard by the county property tax assessment board of appeals.
- (b) The department of local government finance and the Indiana board may adopt emergency rules in the manner provided under IC 4-22-2-37.1 to implement this section.
As added by P.L.249-2015, SEC.21.