A BILL FOR AN ACT to amend the Indiana Code concerning local government.

Plain English Breakdown

The official source material does not provide specific details on how local government boards will implement these changes or what happens if property owners do not follow the rules.

Changes to Property Assessment Payments

This bill requires local government boards to allow property owners with deferred payment waivers to prepay their assessments.

What This Bill Does

• Requires municipal works boards to establish policies allowing property owners who have filed for deferred payment waivers to prepay their assessment installments.
• Specifies that these policies must permit such property owners to pay the full amount of their assessment at any time, including within the year after filing the waiver.

Who It Names or Affects

• Property owners with real estate who have filed for deferred payment waivers
• Municipal works boards responsible for setting rules on assessment payments

Terms To Know

Deferred installments

Payments that are delayed until a later time.

Waiver

A formal request to be excused from or allowed an exception to a rule.

Limits and Unknowns

• The bill does not specify the consequences for property owners who do not follow the new prepayment rules.
• It is unclear how municipal works boards will implement these changes in their policies.

Official Summary Text

A BILL FOR AN ACT to amend the Indiana Code concerning local government.
Prepayment of assessment installments.

Current Bill Text

A BILL FOR AN ACT to amend the Indiana Code concerning local government.

Prepayment of assessment installments.

Revises a provision of the municipal Barrett Law to: (1) require a municipal works board to establish a policy to permit an owner of real property in the municipality that has filed a waiver to pay the property owner's assessments in deferred installments to prepay the property owner's assessment; and (2) specify that the policy must allow such a property owner to pay the assessment in full at any time, including within the year in which the waiver is filed to pay assessments in deferred installments, while retaining the provision in current law for payment in full at any time after the expiration of the first year after the filing of the waiver.