By Memo dated February 2, 2012:
"The Department of Local Government Finance ("the Department") recently requested and recieved updated Soil Productivity Factors from the Natural Resources Conservation Service of the United States Department of Agriculture ("USDA"). The updated Soil Productivity Factors are to be applied and used as a part of the March 1, 2012, general reassessment.
... The best soil productivity in the state is now approximately 1.66 (changed from 1.28), while the poorest remains .50."
http://www.in.gov/dlgf/files/120202_Soil_Productivity_Factor_Update.pdf
On March 19, 2012, the Governor signed into law SEA 19, which provides as follows:
SECTION 9. IC 6-1.1-4-13 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE FEBRUARY 29,
2012 (RETROACTIVE)]: Sec. 13. (a) In assessing or reassessing land, the land
shall be assessed as agricultural land only when it is devoted to agricultural
use.
(b) The department of local government finance shall give written
notice to each county assessor of:
(1) the availability of the United
States Department of Agriculture's soil survey data; and
(2) the
appropriate soil productivity factor for each type or classification of soil
shown on the United States Department of Agriculture's soil survey map.
All
assessing officials and the property tax assessment board of appeals shall use
the data in determining the true tax value of agricultural land. However,
notwithstanding the availability of new soil productivity factors and the
department of local government finance's notice of the appropriate soil
productivity factor for each type or classification of soil shown on the United
States Department of Agriculture's soil survey map for the March 1, 2012,
assessment date, the soil productivity factors used for the March 1, 2011,
assessment date shall be used for the March 1, 2012, assessment date. New soil
productivity factors shall be used for assessment dates occurring after March 1,
2012.
(c) The department of local government finance shall by rule
provide for the method for determining the true tax value of each parcel of
agricultural land.
(d) This section does not apply to land purchased for
industrial, commercial, or residential uses.
http://www.in.gov/legislative/bills/2012/SE/SE0019.1.html
