Indiana § 36-3-8-5 Adjustment of levies, rates, and budgets

Indiana Statutes

§ 36-3-8-5 — Adjustment of levies, rates, and budgets

Indiana § 36-3-8-5

Title 36LOCAL GOVERNMENT

Art. 3GOVERNMENT OF INDIANAPOLIS AND

Ch. 8Town of Cumberland

This text of Indiana § 36-3-8-5 (Adjustment of levies, rates, and budgets) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-3-8-5 (2026).

Text

(a)The department of local government finance shall adjust maximum permissible property tax levies, rates, and budgets of units of local government as necessary to account for the town becoming an excluded city.

(b)After December 31, 2026, the town is liable for debt service owed by the consolidated city on December 31, 2026, in the same ratio as the assessed valuation of the property in the town bears to the assessed valuation of all property included in the consolidated city until the particular debt service is satisfied. The town is not liable for debt service issued by the consolidated city after December 31, 2026.

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(a) The department of local government finance
shall adjust maximum permissible property tax levies, rates, and
budgets of units of local government as necessary to account for the
town becoming an excluded city.
(b) After December 31, 2026, the town is liable for debt service
owed by the consolidated city on December 31, 2026, in the same ratio
as the assessed valuation of the property in the town bears to the
assessed valuation of all property included in the consolidated city until
the particular debt service is satisfied. The town is not liable for debt
service issued by the consolidated city after December 31, 2026.