§ 36-9-15.5-6 — Tax levy; rate of tax

Indiana § 36-9-15.5-6

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 9: TRANSPORTATION AND PUBLIC WORKS
• Ch. 15.5: Municipal Cumulative Capital Development Fund

Text

(a) The municipal fiscal body may provide
money for the cumulative capital development fund by levying a tax in
compliance with IC 6-1.1-41 on the taxable property in the
municipality. For purposes of this section, a county in which only the
county economic development income tax (IC 6-3.5-7, repealed) was
in effect on January 1, 2016, is considered a county in which the local
income tax is not in effect unless the county increases, after 2015, the
allocation of its local income tax revenue to property tax relief, public
safety, or certified shares by an amount that is at least equal to the
revenue raised from an income tax rate of twenty-five hundredths
percent (0.25%).
(b) The maximum property tax rate that may be imposed for
property taxes first due and payable during a particular year in a
municipality that is either wholly or partially located in a county in
which the local income tax is in effect on January 1 of that year
depends upon the number of years the municipality has previously
imposed a tax under this chapter and is determined under the following
table:
(c) The maximum property tax rate that may be imposed for
property taxes first due and payable during a particular year in a
municipality that is wholly located in a county in which the local
income tax is not in effect on January 1 of that year depends upon the
number of years the municipality has previously imposed a tax under
this chapter and is determined under the following table:

Legislative History

As added by P.L.44-1984, SEC.17. Amended by P.L.17-1995, SEC.33; P.L.146-2008, SEC.792; P.L.197-2016, SEC.150.