50 Ind. Admin. Code 27-10-1

Current through May 29, 2024

Section 50 IAC 27-10-1 - Provision of information to the department

Authority: IC 6-1.1-4-4.5; IC 6-1.1-31-1; IC 6-1.1-31-12

Affected: IC 6-1.1-4-4.5

Sec. 1.

(a) If the median ratio or coefficient of dispersion (COD) calculated for the county and each township in any property classification specified in 50 IAC 27-4-1.550 IAC 27-4-6, as verified by the department, falls outside the requirements of 50 IAC 27-4-1.450 IAC 27-4-5, the county assessor shall apply an adjustment factor to bring the median ratio and COD into compliance.

(b) If the county assessor believes that reasons exist why no factor should be applied in a particular township, the county assessor shall immediately:

(1) notify the commissioner in writing of those reasons; and

(2) request permission to take:

(A) action other than that mandated in subsection (a); or

(B) no action.

(c) The commissioner shall act on the request within thirty (30) days of receiving the request. In response to a county assessor's request for permission to take action other than that mandated in subsection (a), the commissioner may:

(1) require the county assessor to take the action mandated in subsection (a);

(2) permit the action requested by the county assessor; or

(3) require the county assessor to take other action short of that required in subsection (a).

50 IAC 27-10-1

Department of Local Government Finance; 50 IAC 27-10-1; filed Apr 8, 2010, 1:45 p.m.: 20100505-IR-050090502FRA

Filed 11/2/2020, 9:34 a.m.: 20201202-IR-050190636FRA