{"data":{"id":"us-in/ic-6-1.1-1-3","jurisdiction":"us-in","citation":"IC 6-1.1-1-3","heading":"\"Assessed value\" or \"assessed valuation\"","body":"Sec. 3. (a) Except as provided in subsection (b), \"assessed value\" or \"assessed valuation\" means an amount equal to:\n(1) for assessment dates before March 1, 2001, thirty-three and one-third percent (33 1/3%) of the true tax value of property; and\n(2) for assessment dates after February 28, 2001, the true tax value of property.\n(b) For purposes of calculating a budget, rate, or levy under IC 6-1.1-17, IC 6-1.1-18, IC 6-1.1-18.5, IC 6-1.1-20, IC 20-46-4 (before January 1, 2019), IC 20-46-5 (before January 1, 2019), IC 20-46-6 (before January 1, 2019), and IC 20-46-8 (after December 31, 2018), \"assessed value\" or \"assessed valuation\" does not include the net assessed value of tangible property excluded and kept separately on a tax duplicate by a county auditor under IC 6-1.1-17-0.5.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 1. General Definitions and Rules of Construction"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-1-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"d7800fe88d83bdf62a9f27448b6fc305647677fb485b2e4708868d02558aeefb","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-1-2","next":"us-in/ic-6-1.1-1-3.1"},"notice":"GroundRules: Original legal text. Not legal advice."}