1. (a) After conducting a hearing, the Indiana board may take additional evidence or hold additional hearings.

2. (b) The Indiana board may base its final determination on a stipulation between the respondent and the petitioner. If the final determination is based on a stipulated assessed valuation of tangible property, the Indiana board may order the placement of a notation on the permanent assessment record of the tangible property that the assessed valuation was determined by stipulation. The Indiana board may:

   1. (1) order that a final determination under this subsection has no precedential value; or
   2. (2) specify a limited precedential value of a final determination under this subsection.

3. (c) If the Indiana board does not issue its final determination under subsection (b), the Indiana board's final determination must include separately stated findings of fact for all aspects of the determination. Findings of ultimate fact must be accompanied by a concise statement of the underlying basic facts of record to support the findings. Findings must:

   1. (1) be based exclusively on:

      1. (A) the evidence on the record in the proceeding; and
      2. (B) matters officially noticed in the proceeding; and
   2. (2) be based on a preponderance of the evidence.

As added by P.L.198-2001, SEC.95. Amended by P.L.245-2003, SEC.24; P.L.219-2007, SEC.90.