TITLE 50 DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Economic Impact Statement
LSA Document #06-560
IC 4-22-2.1-5 Statement Concerning Rules Affecting Small Businesses
Estimated Number of Small Businesses Impacted by this Rule:
The Department estimates that no small businesses will be directly impacted by this rule. The rule simply clarifies the definitions of "annually assessed mobile homes" and "real property mobile homes," while providing the assessment date for each category. The clarification of definitions is in accordance with the requirements of
IC 6-1.1-7. No impact is expected for mobile home dealers as mobile home inventory is classified as "personal property mobile homes," which is not addressed by this rule.
Estimated Average Annual Administrative Costs That Small Businesses Will Incur:
The Department estimates that no small businesses will incur additional administrative expenses resulting from compliance with this rule. Administrative expenses are not expected to increase because no additional reporting or filing requirements will be added by the rule. The only effect that the rule may have on small businesses is timing: a business may be required to pay the assessment on a mobile home earlier or later than in previous years, depending into which category the mobile home falls.
Estimated Total Annual Economic Impact on Small Businesses:
The Department estimates that there will be no real financial impact on small businesses as a result of compliance with this rule. Both "annually assessed" and "real property" mobile homes have been valued the same since the 2002 reassessment. This rule merely brings the definitions of "annually assessed mobile homes" and "real property mobile homes" in line with the requirements of
IC 6-1.1-7. The only possible economic impact that the rule may have on small businesses is that if a small business owns a mobile home, and if the mobile home is reclassified as a result of this rule, the payment date for taxes will change. This change occurs because owners of mobile homes classified as "annually assessed" pay taxes in the same year as the assessment, while owners of mobile homes classified as "real property" pay taxes one year in arrears.
Justification of Requirements or Costs on Small Businesses Where Rule Is Not Expressly Required by Law: No additional requirements or costs are expected to result from this rule. If any additional costs are incurred in an effort to comply with this rule, they are justified by the state's interest in uniform and accurate mobile home assessments.
Supporting Data, Studies, and Analyses: Because no financial impact is expected as a result of this rule, and because the rule simply modifies definitions in compliance with the statute, no supporting data, studies, or analyses were relied upon by the agency in its determination.
Regulatory Flexibility Analysis of Alternative Methods:
Because the exclusive purpose of the rule is to modify definitions in accordance with the statute, the Department did not conduct a regulatory flexibility analysis of alternative methods. Additionally, because no financial impact is expected as a result of compliance with this rule, neither less stringent nor more simplified requirements are necessary for this rule.
Supporting Data, Studies, and Analyses: Because formulating alternative methods is not appropriate for this rule, the Department did not rely upon data, studies, or analyses in its determinations.
Posted: 01/24/2007 by Legislative Services Agency
DIN: 20070124-IR-050060560EIA
Composed: May 04,2024 8:06:36PM EDT
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