Exemption from levy limits; local airport authorities
Sec. 20. (a) The ad valorem property tax levy limits imposed by
section 3 of this chapter do not apply to ad valorem property taxes
imposed by a local airport authority under IC 8-22-3-25 for a
cumulative building fund.
(b) For purposes of computing the ad valorem property tax levy
limits imposed on a civil taxing unit by section 3 of this chapter, a
local airport authority's ad valorem property tax levy for a calendar
year does not include that part of its levy that is levied under
IC 8-22-3-25 for a cumulative building fund.
As added by P.L.19-1994, SEC.2.
Last modified: May 28, 2006