The bill introduces an automated valuation model (AVM) system that the Department of Local Government Finance (DLGF) is required to develop and implement for assessing qualified residential properties. The DLGF will run all qualifying properties through this AVM system annually to determine fair market values for the county auditor's use. This modernization effort is designed to remove qualified residential properties from cyclical reassessments and annual adjustments, which could help stabilize property tax bills and increase assessors' accuracy in property valuation.
Summary
House Bill 1658 proposes significant changes to the residential property assessment process in Indiana. It seeks to eliminate elections for the offices of county and township assessors after 2026 and phases out these offices as current terms expire. The bill stipulates that the assessment duties of these offices will be transferred to the county auditor, which would centralize property assessment responsibilities within the county. This transition aims to create a more streamlined and efficient property assessment process, as the county auditor will assume these roles once assessors' terms end, thereby changing the landscape of property taxation in Indiana.
Contention
While proponents of HB1658 argue that centralizing property assessments and using advanced valuation technology will enhance accuracy and efficiency, opponents may raise concerns about the loss of local control and representation. Critics might argue that abolishing the positions of local assessors could lead to a lack of accountability and responsiveness to community needs regarding property assessments, thus potentially alienating taxpayers from local government decisions that directly affect them.