Definition of Terms

Assessment Notice

A written notice to the property owner of the assessed value of certain properties described in the notice. Law mandates that notice be given to the property owner following a revaluation of the property. The Form 11 is actual notice sent by the Assessor listing some of the property characteristics and the new assessed values.

Improvements

Structures;

Anything that is built on the land. (i.e., house, barn, pool, paving etc.)

Real Property

The sum of tangible and intangible rights in land and improvements on the land. (IC6-11-1-15)

Real Property means the following:

• Land located within this state
• A building or fixture situated on land located within this state
• An appurtenance to land located within this state
• An estate in land located within this state, or an estate, right, or privilege in mines located on the land or minerals, including, but not limited to, oil and gas, located in the land, if the estate, right, or privilege is distinct from the ownership of the surface of the land
• A gaming riverboat licensed under IC-4-33

Personal Property

Movable items not permanently affixed to or part of the real estate such as:

-billboards and other advertising devices which are located on real property that is not owned by the owner of the devices

- foundations (other than foundations which support a building or structure) on which machinery or equipment

- all other tangible property (other than real property) which: (A) is being held as an investment; or (B) is depreciable personal property

- mobile homes that do not qualify as real property and are not described in subdivision.

Personal property does not include the following: (1) commercially planted and growing crops while in the ground; (2) computer application software; and (3) inventory. (IC 6-1.1-1-11)

The land and everything permanently attached to it.

Tangible Property

Real Property and Personal Property. (IC6-11-1-19)