Authority: IC 6-1.1-31-1

Affected: IC 6-1.1-3-20; IC 6-1.1-9; IC 6-1.1-16-1

Sec. 5. (a) A township assessor, if any, must make a change in the assessed value and give notice of the change on or before the later of:

1. (1) September 15 of the year for which the assessment is made; or
2. (2) four (4) months from the date the personal property return is filed.

(b) If the taxpayer has failed to file a return, a notice of assessment must be given within the ten (10) year period after the date on which the return should have been filed. If a fraudulent return has been filed, the assessor has no limitation of time within which to act. If the taxpayer fails to file a personal property return that substantially complies with the provisions of IC 6-1.1 and the rules of the department, the assessment may be changed if notice is given within three (3) years after the date the return is filed.

(Department of Local Government Finance; 50 IAC 4.2-3.1-5; filed Feb 26, 2010, 2:43 p.m.: 20100324-IR-050090576FRA; filed Nov 2, 2020, 9:34 a.m.: 20201202-IR-050190636FRA; readopted filed Oct 21, 2025, 9:19 a.m.: 20251112-IR-050240632RFA)