Sec. 2. (a) All tangible property which is subject to assessment shall be assessed on a just valuation basis and in a uniform and equal manner.
(b) Personal property which is subject to assessment and taxation shall be assessed annually in the manner prescribed in this article.
(c) Real property which is subject to assessment and taxation shall be assessed in the manner and at the times prescribed in this article.
(d) This section applies to assessment dates described in section 1.5(a)(2) and 1.5(b)(2) of this chapter. The true tax value of tangible property that is subject to assessment in a year shall be determined as of the assessment date in that year. Except as otherwise expressly provided by law enacted after July 1, 2014, a change in use, value, character, or ownership of tangible property after an assessment date shall not be considered in determining the true tax value of the tangible property for that assessment date.
[Pre-1975 Property Tax Recodification Citation: 6-1-21-2.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.111-2014, SEC.4.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.