Alternative schedule of installment payments
Sec. 9.5. (a) This section applies only to property taxes first due
and payable in a year that begins after December 31, 2003:
(1) with respect to a homestead (as defined in IC 6-1.1-20.9-1);
and
(2) that are not payable in one (1) installment under section 9(b)
of this chapter.
(b) At any time before the mailing or transmission of tax
statements for a year under section 8 of this chapter, a county may
petition the department of local government finance to establish a
schedule of installments for the payment of property taxes with
respect to:
(1) real property that are based on the assessment of the
property in the immediately preceding year; or
(2) a mobile home or manufactured home that is not assessed as
real property that are based on the assessment of the property in
the current year.
The county fiscal body (as defined in IC 36-1-2-6), the county
auditor, and the county treasurer must approve a petition under this
subsection.
(c) The department of local government finance:
(1) may not establish a date for:
(A) an installment payment that is earlier than May 10 of the
year in which the tax statement is mailed or transmitted;
(B) the first installment payment that is later than November
10 of the year in which the tax statement is mailed or
transmitted; or
(C) the last installment payment that is later than May 10 of
the year immediately following the year in which the tax
statement is mailed or transmitted; and
(2) shall:
(A) prescribe the form of the petition under subsection (b);
(B) determine the information required on the form; and
(C) notify the county fiscal body, the county auditor, and the
county treasurer of the department's determination on the
petition not later than twenty (20) days after receiving the
petition.
(d) Revenue from property taxes paid under this section in the
year immediately following the year in which the tax statement is
mailed or transmitted under section 8 of this chapter:
(1) is not considered in the determination of a levy excess under
IC 6-1.1-18.5-17 or IC 6-1.1-19-1.7 for the year in which the
property taxes are paid; and
(2) may be:
(A) used to repay temporary loans entered into by a political
subdivision for; and
(B) expended for any other reason by a political subdivision
in the year the revenue is received under an appropriation
from;
the year in which the tax statement is mailed or transmitted
under section 8 of this chapter.
As added by P.L.1-2004, SEC.36 and P.L.23-2004, SEC.39.
Last modified: May 28, 2006