§ 6-1.1-18.5-10.3 — Levy limit on taxes by library board for capital projects fund; exemption

Indiana § 6-1.1-18.5-10.3

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 18.5: Civil Government Property Tax Controls

Text

3. (a) This subsection does not apply to
property taxes first due and payable after December 31, 2008. The ad
valorem property tax levy limits imposed by section 3 of this chapter
do not apply to ad valorem property taxes imposed by a library board
for a capital projects fund under IC 36-12-12. However, the maximum
amount that is exempt from the levy limits under this section may not
exceed the property taxes that would be raised in the ensuing calendar
year with a property tax rate of one and thirty-three hundredths cents
($0.0133) per one hundred dollars ($100) of assessed valuation.
(b) This subsection does not apply to property taxes first due and
payable after December 31, 2008. For purposes of computing the ad
valorem property tax levy limit imposed on a library board under
section 3 of this chapter, the library board's ad valorem property tax
levy for a particular calendar year does not include that part of the levy
imposed under IC 36-12-12 that is exempt from the ad valorem
property tax levy limits under subsection (a).

Legislative History

As added by P.L.35-1990, SEC.8. Amended by P.L.6-1997, SEC.83; P.L.1-2005, SEC.88; P.L.231-2005, SEC.1; P.L.146-2008, SEC.176.