Under IC 4-22-2-24, notice is hereby given that on June 9, 2008, at 9:00 a.m., at the Indiana Government Center-South, 402 West Washington Street, Conference Center Auditorium, Indianapolis, Indiana, the Department of Local Government Finance will hold a public hearing on the proposed rule for the reassessment of property for the general reassessment effective March 1, 2011.

The proposed rule repeals 50 IAC 2.3 and adds 50 IAC 2.4 for the general reassessment of real property effective for taxes first due and payable in 2012, incorporating the 2011 Real Property Assessment Manual and the 2011 Real Property Assessment Guidelines by reference pursuant to IC 4-22-2-21. The purpose of the rule is to delineate the assessment practices to be used by assessing officials for the 2011 pay 2012 general reassessment of real property in Indiana to achieve the state's interest in uniform and accurate assessments. The Department estimates that no taxpayer will be directly impacted by this rule and that no taxpayer will incur additional administrative expenses resulting from compliance with this rule because no additional reporting or filing requirements will be added by the rule. The Department estimates that the proposed rule will have an indeterminable but relatively minor fiscal impact on state and local government. The reassessment of real property is part of the property tax structure in Indiana that is administered at the local level with oversight by the Indiana Department of Local Government Finance. Pursuant to IC 6-1.1-4-27.5, local governments have a reassessment fund in place to fund the cost of the reassessment. Because no financial impact is expected as a result of this rule, and because the rule simply prescribes methodologies for assessing officials, no supporting data, studies, or analyses were relied upon by the Department in its determination.

Copies of these rules are available on the Department of Local Government Finance's website at www.in.gov/dlgf.

Copies of these rules, the 2011 Real Property Assessment Manual, and the 2011 Real Property Assessment Guidelines are now on file at the Indiana Government Center-North, 100 North Senate Avenue, Room 1058 and Legislative Services Agency, One North Capitol, Suite 325, Indianapolis, Indiana and are open for public inspection.