Indiana § 20-45-7-18 Calculation; tax rate

Indiana Statutes

§ 20-45-7-18 — Calculation; tax rate

Indiana·Title 20 EDUCATION·Art. 45 GENERAL FUND LEVIES·Ch. 7 Supplemental County Levy; Lake County

The county council shall set a rate for the tax
that will produce the total amount of the entitlements of the qualified
school corporations for the next calendar year. However, the amount of
the tax levy may not be greater than the amount determined under
STEP TWO of the following formula:
STEP ONE: Determine the total dollar amount of that tax levy for
1972, payable in calendar year 1973, assuming one hundred
percent (100%) tax collection.
STEP TWO: Multiply the STEP ONE amount by the ADA ratio.
[Pre-2006 Recodification Citation: 21-2-12-4.1(a)
part.]

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The county council shall set a rate for the tax
that will produce the total amount of the entitlements of the qualified
school corporations for the next calendar year. However, the amount of
the tax levy may not be greater than the amount determined under
STEP TWO of the following formula:
STEP ONE: Determine the total dollar amount of that tax levy for
1972, payable in calendar year 1973, assuming one hundred
percent (100%) tax collection.
STEP TWO: Multiply the STEP ONE amount by the ADA ratio.
[Pre-2006 Recodification Citation: 21-2-12-4.1(a)
part.]

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