MEMORANDUM
TO: All County Assessors and Auditors
FROM:
Micah G. Vincent, Commissioner
RE: SEA 517: Assessment of Outdoor
Advertising Signs; Township Coefficient of Dispersion Study
DATE:
June 6, 2013
On May 11, 2013, Governor Mike Pence signed into law
Senate Enrolled Act 517 (“SEA 517”). Sections 2 and 5 amend and add a statute,
respectively, governing matters related to property assessment. These changes
are effective July 1, 2013. Please note that this memorandum is intended to be
an informative bulletin; it is not a substitute for reading the
law.
Section 2 amends IC 6-1.1-3-24 so that the outdoor advertising sign
value table prescribed by this statute is to be used through 2016 assessment
dates (this statute previously covered assessment dates only through 2014). This
statute now expires July 1, 2017.
Section 5 adds IC 6-1.1-14-12 to
require the Department of Local Government Finance (“Department”) to conduct a
specific coefficient of dispersion study as part of the ratio study review and
approval process for 2013 through 2017 in townships having a population of more
than 130,000. The Department must separate each township into four comparable
groups of parcels as it determines and separately review and analyze for each
group of parcels data used for the coefficient of dispersion study and the
property sales assessment ratio study submitted by the county. The Department
must then prepare a coefficient of dispersion study and a property sales
assessment ratio study for each group of parcels. This statute is applicable to
townships in Lake (North) and Marion (Center, Washington, and Wayne)
Counties.
If you have any questions, please contact Assessment Division
Director Barry Wood at (317) 232-3762 or bwood@dlgf.in.gov.
