Indiana Code Title 6. Taxation § 6-1.1-4-11

Sec. 11. (a) If a substantial amount of real and personal property in a township has been physically destroyed, in whole or in part, as a result of a disaster, the county assessor shall:

if a person petitions the county assessor to take that action.  The county assessor shall specify in the assessor's order the time within which the reassessment must be completed and the date on which the reassessment will become effective.  However, the reassessed value and the corresponding adjustment of tax due, past due, or already paid is effective as of the date the disaster occurred, without penalty.

(b) The petition for reassessment of destroyed property, the reassessment order, and the tax adjustment order may not be made after December 31st of the year in which the taxes which would first be affected by the reassessment are payable.