Section 50 IAC 26-6-8 - Maintenance of data on oil and gas assessmentsAuthority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-31.5
Sec. 8.
(a) The assessment system shall maintain and make available for electronic retrieval all oil and gas assessment data required to be reported to assessing officials as described in the property tax file format requirements of 50 IAC 26-20 relative to the following minimum standard: (1) The current assessment year.(2) The two (2) years before the current assessment year.(b) Assessment data relating to dates not specified in subsection (a), that is purged from the online system, shall be stored offline in a flat ASCII file in machine-readable form. Field and file definitions must also be included with the data in machine-readable form.(c) Notwithstanding subsection (a), a county may submit a request in writing to the department to waive the requirement of maintaining a certified assessment system specific to oil and gas assessments if oil and gas assessments constitute one-hundredth of one percent (0.01%) or less of the county's overall total gross assessed value for the year. The department shall review the request to verify that the county's oil and gas assessments fall within the aforementioned tolerance and shall approve the request upon successful verification. The department reserves the right to request additional information as necessary from the county in order to verify that the county's oil and gas assessments fall within the aforementioned tolerance.(d) If in a year a county determines that its oil and gas assessments constitute more than one-hundredth of one percent (0.01%) of the county's overall total gross assessed value for that year, the county shall take steps to acquire and utilize an assessment system specific to oil and gas assessments prior to the next occurrence of when the county must have its property tax management system certified as prescribed in 50 IAC 26-18-4. However, the county's oil and gas assessment data submission to the department for that year shall not be considered invalid even if at the time of the submission, the county has not yet acquired or utilized an assessment system specific to oil and gas assessments.(e) A county exempt from maintaining a certified assessment system specific to oil and gas assessments pursuant to subsection (c) shall still report oil and gas assessment data to the department in the OILGAS and OILGASALL file formats prescribed by 50 IAC 26-20.Department of Local Government Finance; 50 IAC 26-6-8; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRAFiled 5/9/2018, 10:00 a.m.: 20180606-IR-050180006FRAReadopted filed 10/4/2024, 4:04 p.m.: 20241030-IR-050230833RFA