Under Indiana Code (IC 6-1.1-4-4.2), as of July 1, 2012 a “General Reassessment” has been replaced with a “Cyclical Reassessment”. The basic premise of a cyclical reassessment is to spread the reassessment activities, including the inspection and updating of all parcels and characteristics over a four year period vs. a twenty month period. This allows the work and expenses to be spread more consistently and predictably over a longer period of time, thus facilitating better assessment practices.
All real property parcels are divided into four different groups of property classes (Residential, Agriculture, Commercial/Industrial, Utilities/Exempts) with each group containing at least 25% review per year of each class.
ARC’s ARCvantage product combines county data with aerial photography, on-site digital photos and review of each parcel for more accurate information. This will help to provide a more economical process for reassessment.
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