Authority: IC 6-1.1-8.7-7

Affected: IC 6-1.1-8.7

Sec. 1. (a) The department shall make a preliminary determination of true tax value of the industrial facility and submit the preliminary value to the county auditor, the county assessor, the petitioner's representative, and the industrial facility.

(b) The county assessor, the industrial company and the petitioner's representative will have thirty (30) days to review the preliminary true tax value issued under subsection (a) to determine the validity and may present findings to the department in support of or opposition to the department's preliminary determination. The department may extend or decrease this time to review for good cause.

(c) The department may make additions or corrections to the preliminary assessment based on the findings submitted under subsection (b) when making its final certified assessment determination.

(d) The department will certify a final assessment determination of an industrial company's real property to the county auditor, the county assessor, the industrial company, and the petitioner's representative within:

1. (1) six (6) months of a petition for reassessment filed under 50 IAC 18-3-2(b); or
2. (2) three (3) months if a petition is filed under 50 IAC 18-3-2(d).

(e) The department will base its final certified value on the evidence provided by the petitioners and county officials and issue a final determination containing the following information:

1. (1) Original assessment value.
2. (2) New assessment value if a change is made.
3. (3) A reason for the change in assessed value if a change is made.
4. (4) Appeal rights.

(Department of Local Government Finance; 50 IAC 18-5-1; filed Apr 22, 2004, 10:05 a.m.: 27 IR 2711; readopted filed Oct 21, 2025, 9:19 a.m.: 20251112-IR-050240632RFA)