Version b
Proposed property tax levy; approval
Note: This version of section amended by P.L.227-2005, SEC.5.
See also preceding version of this section amended by P.L.199-2005,
SEC.13.
Sec. 20. (a) This section applies:
(1) to each governing body of a taxing unit that is not comprised
of a majority of officials who are elected to serve on the
governing body; and
(2) if the proposed property tax levy for the taxing unit for the
ensuing calendar year is more than five percent (5%) greater
than the property tax levy for the taxing unit for the current
calendar year.
(b) As used in this section, "taxing unit" has the meaning set forth
in IC 6-1.1-1-21, except that the term does not include:
(1) a school corporation; or
(2) an entity whose tax levies are subject to review and
modification by a city-county legislative body under
IC 36-3-6-9.
(c) If:
(1) the assessed valuation of a taxing unit is entirely contained
within a city or town; or
(2) the assessed valuation of a taxing unit is not entirely
contained within a city or town but the taxing unit was
originally established by the city or town;
the governing body shall submit its proposed budget and property tax
levy to the city or town fiscal body. The proposed budget and levy
shall be submitted at least fourteen (14) days before the city or town
fiscal body is required to hold budget approval hearings under this
chapter.
(d) If subsection (c) does not apply, the governing body of the
taxing unit shall submit its proposed budget and property tax levy to
the county fiscal body in the county where the taxing unit has the
most assessed valuation. The proposed budget and levy shall be
submitted at least fourteen (14) days before the county fiscal body is
required to hold budget approval hearings under this chapter.
(e) The fiscal body of the city, town, or county (whichever
applies) shall review each budget and proposed tax levy and adopt a
final budget and tax levy for the taxing unit. The fiscal body may
reduce or modify but not increase the proposed budget or tax levy.
As added by P.L.25-1995, SEC.26. Amended by P.L.1-2004, SEC.19
and P.L.23-2004, SEC.20; P.L.227-2005, SEC.5.
Last modified: May 28, 2006