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Definition of Terms

Assessment Notice: The Form 11 is 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 will show the prior year assessed value and the new assessed value for comparison.

Land: The ground on which improvements may be placed. Does not include anything but the land itself.

Improvements: Anything that is built on the land, such as the house, garage, patio/deck, pole building, barn, pool, etc.)

Real Property: The sum of tangible and intangible rights in land and improvements on the land.

  • Land located within this county.
  • A building or fixture situated on land located within this county.
  • An appurtenance to land located within this county. (right of way)
  • An easement on land located within this county, 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:

  • Billboard and other advertising devices, which are located on real property that is not owned by the owner of the devices.
  • Equipment used in the course of conducting a Business.
  • Mobile homes in mobile home parks and on personally owned property.
  • Foundations (other than foundations which support a building or structure) on which machinery or equipment is installed.
  • All other tangible property (other than real property) which is being held for sale in the ordinary course of a trade or business, held, used, or consumed in connection with the production of income, or held as an investment.

Real Estate: The physical land and everything permanently attached to it.

Tangible Property: The combination of Real Property and Personal Property.

Tangible Personal Property: Personal Property, such as furniture, boats, boat lifts that may be sold with the property.  Anything that has physical attributes and can actually be seen and handled physically.

Intangible Personal Property: Personal Property, such as money, deposits, credits, shares of stock, bonds, notes, other evidences of indebtedness, and other evidences of property interests: paper assets.

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