Adjustments of property tax rates for local funds in counties in
which certain deductions and exemptions apply
Sec. 9.9. (a) The department of local government finance shall
adjust the maximum property tax rate levied under the statutes listed
in section 9.8(a) of this chapter, IC 6-1.1-19-10, or IC 21-2-15-11 in
each county for property taxes first due and payable in:
(1) 2004;
(2) the year the county first applies the deduction under
IC 6-1.1-12-41 if the county first applies that deduction for
property taxes first due and payable in 2005 or 2006; and
(3) 2007 if the county does not apply the deduction under
IC 6-1.1-12-41 for any year.
(b) If the county does not apply the deduction under IC 6-1.1-12-41
for property taxes first due and payable in 2004, the department shall
compute the adjustment under subsection (a)(1) to allow a levy for
the fund for which the property tax rate is levied that equals the levy
that would have applied for the fund if exemptions under
IC 6-1.1-10-29(b)(2) did not apply for the 2003 assessment date.
(c) If the county applies the deduction under IC 6-1.1-12-41 for
property taxes first due and payable in 2004, the department shall
compute the adjustment under subsection (a)(1) to allow a levy for
the fund for which the property tax rate is levied that equals the levy
that would have applied for the fund if:
(1) exemptions under IC 6-1.1-10-29(b)(2); and
(2) deductions under IC 6-1.1-12-41;
did not apply for the 2003 assessment date.
(d) The department shall compute the adjustment under subsection
(a)(2) to allow a levy for the fund for which the property tax rate is
levied that equals the levy that would have applied for the fund if
deductions under IC 6-1.1-12-41 did not apply for the assessment
date of the year that immediately precedes the year for which the
adjustment is made.
(e) The department shall compute the adjustment under subsection
(a)(3) to allow a levy for the fund for which the property tax rate is
levied that equals the levy that would have applied for the fund if
deductions under IC 6-1.1-12-42 did not apply for the 2006
assessment date.
As added by P.L.272-2003, SEC.4.
Last modified: May 28, 2006