Synopsis: Property tax classification. Allows the general assembly to
enact legislation to classify property and establish a different property
tax assessment ratio for each class. This proposed amendment has not
been previously agreed to by a general assembly.
Effective: This proposed amendment must be agreed to by two
consecutive general assemblies and ratified by a majority of the state's
voters voting on the question to be effective.
January 8, 2002, read first time and referred to Committee on Rules and Legislative
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
this style type reconciles conflicts
between statutes enacted by the 2001 General Assembly.
A JOINT RESOLUTION proposing an amendment to Article 10,
Section 1 of the Indiana Constitution concerning taxation.
valuation that will be taxed in each class.
(c) The General Assembly may exempt from property taxation any property in any of the following classes:
(1) Property being used for municipal, educational, literary, scientific, religious or charitable purposes;
(2) Tangible personal property other than property being held for sale in the ordinary course of a trade or business, property being held, used or consumed in connection with the production of income, or property being held as an investment;
(3) Intangible personal property.
(b) (d) The General Assembly may exempt any motor vehicles,
mobile homes, airplanes, boats, trailers or similar property, provided
that an excise tax in lieu of the property tax is substituted therefor.