Statutes, codes, and regulations
Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCEArticle 26 - COMPUTER STANDARDS FOR A UNIFORM AND COMMON PROPERTY TAX MANAGEMENT SYSTEM
Rule 50 IAC 26-6 - Property Assessment Calculation Standards
Section 50 IAC 26-6-1 - Land valuation

50 Ind. Admin. Code 26-6-1

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Current through December 12, 2024
Section 50 IAC 26-6-1 - Land valuation

Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5

Affected: IC 6-1.1-4-13.6; IC 6-1.1-31.5

Sec. 1.

(a) Assessment software must value land in accordance with the applicable county land valuation determined under IC 6-1.1-4-13.6. The database shall include all data necessary to price according to the land valuation determination, including all judgment factors applied by the assessor, and the following:
(1) For platted lots, the following:
(A) Land type and property class.
(B) Actual frontage.
(C) Effective frontage.
(D) Effective depth.
(E) Depth factor.
(F) Land area.
(G) Base rate.
(H) Adjusted rate.
(I) Extended value.
(J) Influence factor type, direction, and percentage.
(K) Township.
(L) Summary page number from the land valuation determination.
(M) Taxing district code.
(N) Addition of subdivision identifier, where available.
(O) Lot number, where available.
(P) Description and value of petroleum and mineral rights.
(Q) Site value.
(2) For unplatted lots, the following:
(A) Land type and property class.
(B) Soil identification.
(C) Measured acreage.
(D) Productivity factor.
(E) Base rate.
(F) Adjusted rate.
(G) Extended value.
(H) Influence factor type, direction, and percentage.
(I) Township.
(J) Range.
(K) Section.
(L) Taxing district code.
(M) Summary page number from the land valuation determination.
(N) Home site size.
(O) Legal drain size.
(P) Roadway size.
(Q) Classified land size by classification type.
(R) Description and value of petroleum and mineral rights.
(S) Site value.
(b) The land type and base rate tables and the soil used in land valuation shall be designed to be updated by the user.
(c) The land valuation system shall do the following:
(1) Permit online system entry and change of all user-supplied data elements.
(2) Automatically select the appropriate base rate when land type is entered or changed.

It shall import data from external electronic file sources. For example, it shall provide for the importation of soil data or land sketch data from other electronic files.

(d) If coordinate geometry features are included in the assessment system, it shall compute the following:
(1) Land area.
(2) Effective frontage.
(3) Effective depth.
(4) Depth factor.
(e) The land valuation database shall include the neighborhood codes used in the land valuation base rate guidelines to facilitate periodic updates of the valuation tables.

50 IAC 26-6-1

Department of Local Government Finance; 50 IAC 26-6-1; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA
Readopted filed 10/4/2024, 4:04 p.m.: 20241030-IR-050230833RFA