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The budget order is a critical document in calculating tax bills. The order contains the state's certification of the approved budget, the certified net assessed value, the tax rate and the levy for each fund of each taxing unit in a county. The order also gives the total tax rate for each taxing district.
2016 Tipton County Budget Order - Issued February 3, 2016
As part of the Annual Adjustment process, counties are responsible for submitting a ratio study and uniformity for all classes of property in all townships. The ratio study measures the accuracy and equity of assessments. It is determined by the formula: Assessed Value/Sale Price = Ratio. The assessment ratio for all properties in Indiana is to be 100%.
The accuracy of assessments refers to how close the assessments determined by local assessing officials are to market value-in-use.
On-time property tax billing is a culmination of a year's worth of work of locally elected officials. The process can be separated into two stages: Assessment-to-Budget and Budget-to-Tax Billing. Because these two stages are closely tied, delays in any of the steps in these two stages can have an affect on the timing of property tax bills.
Because each report is very technical in nature, please view the Glossary for definitions of terms used.
Note: The Department will not be providing GANTT Charts for Assessment-to-Tax Billing cycles after 2009-pay-2010.