§ 36-7-30-26 — Resolution to modify definition of property taxes

Indiana § 36-7-30-26

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 30: Reuse of Federal Military Bases

Text

(a) As used in this section, "depreciable
personal property" refers to:
(1) all or any part of the designated taxpayer's depreciable
personal property that is located in the allocation area; and
(2) all or any part of the other depreciable property located and
taxable on the designated taxpayer's site of operations within the
allocation area;
and that is designated as depreciable personal property for purposes of
this section by the reuse authority in a declaratory resolution adopted
or amended under section 10 or 13 of this chapter.
(b) As used in this section, "designated taxpayer" means a taxpayer
designated by the reuse authority in a declaratory resolution adopted or
amended under section 10 or 13 of this chapter, and with respect to
which the reuse authority finds that taxes to be derived from the
depreciable personal property in the allocation area, in excess of the
taxes attributable to the base assessed value of the personal property,
are needed to pay debt service or provide security for bonds issued or
to be issued under section 18 of this chapter or make payments or
provide security on leases payable or to be payable under section 19 of
this chapter in order to provide local public improvements or structures
for a particular allocation area.
(c) The allocation provision of a declaratory resolution may modify
the definition of "property taxes" under section 25(a) of this chapter to
include taxes imposed under IC 6-1.1 on the depreciable personal
property located and taxable on the site of operations of the designated
taxpayers in accordance with the procedures and limitations set forth
in this section and section 25 of this chapter. If such a modification is
included in the resolution, for purposes of section 25 of this chapter,
the term "base assessed value" with respect to the depreciable personal
property means, subject to section 25(i) of this chapter, the net assessed
value of all the depreciable personal property as finally determined for
the assessment date immediately preceding the adoption date of the
modification, as adjusted under section 25(b) of this chapter.

Legislative History

As added by P.L.26-1995, SEC.14. Amended by P.L.214-2019, SEC.48; P.L.257-2019, SEC.138.