50 Ind. Admin. Code 3.3-5-1

Current through October 31, 2024

Section 50 IAC 3.3-5-1 - Criteria for valuation

Authority: IC 6-1.1-7-2; IC 6-1.1-31-1

Affected: IC 6-1.1-7-2

Sec. 1.

(a) County assessors or township assessors, if any, shall use the standard of true tax value as set forth in the real property assessment rules in the assessment of mobile homes.

(b) All annually assessed mobile homes shall have a true tax value set at the least of the values determined using:

(1) the National Automobile Dealers Association Guide;

(2) the purchase price of the mobile home if the:

(A) sale is of a commercial enterprise nature;

(B) buyer and seller are not related by blood or marriage; and

(C) sale date is within one (1) year prior to or subsequent to the January 1 valuation date; or

(3) sales data for generally comparable mobile homes.

50 IAC 3.3-5-1

Department of Local Government Finance; 50 IAC 3.3-5-1; filed Aug 15, 2007, 10:12 a.m.: 20070912-IR-050060560FRA; filed Jan 12, 2012, 10:45 a.m.: 20120208-IR-050110567FRA

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