Taxable property; assessed value
Sec. 6. (a) For purposes of STEP TWO of section 2(a) of this
chapter and STEP TWO of section 2(b) of this chapter, the civil
taxing unit's taxable property includes all taxable property located in
the geographic area subject to the civil taxing unit's ad valorem
property tax levy for the ensuing calendar year, regardless of whether
that property was located in the geographic area subject to the civil
taxing unit's ad valorem property tax levy in the calendar years for
which the computation is made.
(b) For purposes of STEP TWO of section 2(a) of this chapter,
STEP THREE of section 3(a) of this chapter, and STEP THREE of
section 3(b) of this chapter, the assessed value of taxable property is
the assessed value of that property as determined by the department
of local government finance in fixing the civil taxing unit's budget,
levy, and rate for the applicable calendar year, excluding deductions
allowed under IC 6-1.1-12 or IC 6-1.1-12.1.
As added by P.L.73-1983, SEC.1. Amended by P.L.44-1984, SEC.2;
P.L.198-2001, SEC.54.
Last modified: May 28, 2006