50 IAC 27-1-1 Purpose

Sec. 1. The purpose of this article is to establish the procedures and standards to govern local assessing officials and the department in the annual adjustment of assessed valuations of real property under IC 6-1.1-4-4.5 and IC 6-1.1-13. The procedures, procedural requirements, and standards established by this article: (1) shall be followed to attain a just, equal, and uniform basis and level of assessment among taxpayers in a county and from county to county; and (2) will ensure that the annual assessed valuations are reflective of current market value-in-use conditions.