Sec. 19.5. (a) The department of local government finance shall develop a standard contract or standard provisions for contracts to be used in securing professional appraising services.

     (b) The standard contract or contract provisions must contain:

Terms Used In Indiana Code 6-1.1-4-19.5

  • Appraisal: A determination of property value.
  • Contract: A legal written agreement that becomes binding when signed.
  • Devise: To gift property by will.
  • professional appraiser: means an individual or firm that is certified under Indiana Code 6-1.1-4-17
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(1) a fixed date by which the professional appraiser or appraisal firm shall have completed all responsibilities under the contract;

(2) a penalty clause under which the amount to be paid for appraisal services is decreased for failure to complete specified services within the specified time;

(3) a provision requiring the appraiser, or appraisal firm, to make periodic reports to the county assessor;

(4) a provision stipulating the manner in which, and the time intervals at which, the periodic reports referred to in subdivision (3) of this subsection are to be made;

(5) a precise stipulation of what service or services are to be provided and what class or classes of property are to be appraised;

(6) a provision stipulating that the contractor will generate complete parcel characteristics and parcel assessment data in a manner and format acceptable to the legislative services agency and the department of local government finance;

(7) a provision stipulating that the department of local government finance has unrestricted access to the contractor’s work product under the contract; and

(8) a provision stating that the contract is void and unenforceable if the appraiser is not certified by the department of local government finance on the date that the contract is executed or the department of local government finance subsequently revokes the professional appraiser’s certification under IC 6-1.1-31.7-4 after the contract is executed.

The department of local government finance may devise other necessary provisions for the contracts in order to give effect to this chapter.

     (c) In order to comply with the duties assigned to it by this section, the department of local government finance may develop:

(1) one (1) or more model contracts;

(2) one (1) contract with alternate provisions; or

(3) any combination of subdivisions (1) and (2).

The department may approve special contract language in order to meet any unusual situations.

As added by P.L.198-2001, SEC.15. Amended by P.L.146-2008, SEC.73; P.L.182-2009(ss), SEC.88; P.L.257-2019, SEC.16; P.L.159-2020, SEC.5.

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