STATEHOUSE – After passing out of both the House and Senate, legislation authored by State Rep. Shane Lindauer (R-Jasper) to help ensure timely filing of gas and oil assessments could soon become law.
Currently, town and county assessors cannot assess a penalty for late submission of property schedules related to gas and oil wells. Lindauer’s legislation would implement a $25 late-filing penalty against owners of oil or gas interests who fail to submit their property schedule for gas and oil well assessments by the May 15 deadline.
“There are a fair amount of oil and gas wells in Southern Indiana, and with that comes oil and gas producers,” Lindauer said. “While most producers submit their oil and gas property schedules to assessors on time, local assessors have to spend time and money tracking down those who have not submitted their schedules.”
For taxes payable in 2018, there were over 28,600 tax bills for oil and gas interests totaling $1.5 million statewide.
On top of the $25 late fee, an additional penalty would be imposed if the required schedule is not filed within 30 days of the due date.
House Enrolled Act 1305 now moves to the governor for consideration as a new law.