(a)The board, after approval of the legislative
body of the city and subject to section 13 of this chapter, may impose
an annual special benefits assessment on all of the taxable real property
of the economic enhancement district based on the relative benefits to
be received by each type of property. The benefits accruing to parcels
of real property within an economic enhancement district may be
apportioned among those parcels on any basis reasonably
representative of the diffusion of benefits from the economic
enhancement projects, including but not limited to the following:
(1)Proximity of the parcel to the projects.
(2)Accessibility of the parcel to the projects.
(3)True cash value of the parcels.
(4)True cash value of any improvement on the parcel.
(5)Age of any improvement on th
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(a) The board, after approval of the legislative
body of the city and subject to section 13 of this chapter, may impose
an annual special benefits assessment on all of the taxable real property
of the economic enhancement district based on the relative benefits to
be received by each type of property. The benefits accruing to parcels
of real property within an economic enhancement district may be
apportioned among those parcels on any basis reasonably
representative of the diffusion of benefits from the economic
enhancement projects, including but not limited to the following:
(1) Proximity of the parcel to the projects.
(2) Accessibility of the parcel to the projects.
(3) True cash value of the parcels.
(4) True cash value of any improvement on the parcel.
(5) Age of any improvement on the parcel.
(6) Other similar factors.
The apportionment of benefits under this subsection may be adjusted
by zone or land use as provided in subsections (c) and (d).
(b) Upon determining the proposed assessment for each parcel, the
board shall promptly mail notice to each owner of property to be
assessed. This notice must:
(1) set forth the amount of the proposed special assessment;
(2) state that the proposed special assessment on each parcel of
real property in the economic enhancement district is on file and
may be seen in the board's office;
(3) set forth the time and place where the board will hold a public
hearing to hear any owner of assessed real property regarding
their proposed assessment; and
(4) state that the board, after hearing evidence, may decrease, or
leave unchanged, the special assessment on any parcel.
The notices must be deposited in the mail not later than twenty (20)
days before the hearing date. The notices to the owners must be
addressed as the names and addresses appear on the tax duplicates and
the records of the county auditor.
(c) If the benefit of the economic enhancement project varies from
one (1) area to another within the economic enhancement district, up
to three (3) zones may be established within the economic
enhancement district to delineate the approximate difference in
beneficial impact, and benefits may be apportioned accordingly.
(d) In order to encourage the retention or development of various
land uses within the economic enhancement district, assessments may
be adjusted according to the zoning classification of the property.
(e) Each special assessment is a lien on the real property that is
assessed, second only to ad valorem property taxes levied on that
property.
(f) After the public hearing is conducted under subsection (b), the
board shall certify to the county auditor the schedule of special
assessments of benefits. For purposes of providing substantiation of the
deductibility of a special assessment for federal adjusted gross income
tax purposes under Section 164 of the Internal Revenue Code, the
board shall, to the extent practicable, supplement the schedule of
special assessments provided to the county auditor with a statement
that identifies the part of each special assessment that is allocable to
interest, maintenance, and repair charges. If the board provides the
county auditor with the statement, the county auditor shall show, on the
tax statement, the part of the special assessment that is for interest and
maintenance and repair items separately from the remainder of the
special assessment.
(g) Not later than thirty (30) days after the county auditor receives
the certification of final scheduled assessments for the completion of
the economic enhancement projects, the county auditor shall deliver a
copy of the certificate to the county treasurer. Each year, the county
treasurer shall add the full annual assessment due in that year to the tax
statements of the person owning the property affected by the
assessment, designating it in a manner distinct from general taxes.
(h) The proceeds of the special benefits assessments shall be
deposited into a special fund known as the economic enhancement
district project fund, and shall be used by the board solely to finance
economic enhancement projects in or directly serving or benefiting the
economic enhancement district. Any money earned from investment of
money in the fund becomes a part of the fund.