IndianaMunicipal boards would allow early payoff of deferred property assessments
Municipal works boards would have to set a policy letting owners who deferred assessments pay the full balance, including during the first year, plus required interest.
What it does
A municipal works board would set a policy letting owners who defer assessments pay the full balance and clear the property lien, including during the first year, if they also pay required interest.
Argument forOwners who can pay in full could clear a property lien sooner, which may help them end the assessment obligation earlier.
Argument againstPaying the full balance and upcoming interest at once could make early payoff impractical for owners with limited cash.
More detail
A municipal works board shall establish a policy allowing owners to prepay their assessments in full. It applies to owners who filed a waiver to pay their property assessments in deferred installments. Owners must pay interest due at the next interest-paying period along with the full assessment balance. When the assessment and interest are fully paid, interest and liability tied to the assessed property cease. If this bill becomes law, the policy requirement would take effect July 1, 2026. The policy must allow full payment at any time, including within the year the waiver is filed and after the first year.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jan 5Authored by Representative Miller KLatest
- Jan 5First reading: referred to Committee on Local GovernmentIntroduced
Taxes & BudgetGovernment & Ethics