Indiana § 6-1.1-2-11 Tax increment financing allocation area; neutralize effect of certain tax
rates

Indiana Statutes

§ 6-1.1-2-11 — Tax increment financing allocation area; neutralize effect of certain tax rates

Indiana § 6-1.1-2-11

Art. 1.1PROPERTY TAXES

Ch. 2Imposition of Tax

This text of Indiana § 6-1.1-2-11 (Tax increment financing allocation area; neutralize effect of certain tax rates) 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 § 6-1.1-2-11 (2026).

Text

(a)As used in this section, "tax increment financing allocation area" means any area authorized by statute in which ad valorem property taxes are allocated, including the following:

(1)IC 6-1.1-39 (economic development districts).

(2)IC 8-22-3.5 (airport development zones).

(3)IC 36-7-14 (redevelopment of areas needing redevelopment generally).

(4)IC 36-7-15.1 (redevelopment of areas in Marion County).

(5)IC 36-7-30 (reuse of federal military bases).

(6)IC 36-7-30.5 (development of multicounty federal military bases).

(7)IC 36-7-32 (certified technology parks).

(8)IC 36-7-32.5 (innovation development districts).

(9)IC 36-7.5-4.5 (rail transit development districts).

(b)The department shall, in each year beginning after December 31, 2025, and ending before January 1, 2034, adjust

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(a) As used in this section, "tax increment
financing allocation area" means any area authorized by statute in
which ad valorem property taxes are allocated, including the following:
(1) IC 6-1.1-39 (economic development districts).
(2) IC 8-22-3.5 (airport development zones).
(3) IC 36-7-14 (redevelopment of areas needing redevelopment
generally).
(4) IC 36-7-15.1 (redevelopment of areas in Marion County).
(5) IC 36-7-30 (reuse of federal military bases).
(6) IC 36-7-30.5 (development of multicounty federal military
bases).
(7) IC 36-7-32 (certified technology parks).
(8) IC 36-7-32.5 (innovation development districts).
(9) IC 36-7.5-4.5 (rail transit development districts).
(b) The department shall, in each year beginning after December 31,
2025, and ending before January 1, 2034, adjust the base assessed
value of each tax increment financing allocation area to neutralize the
effect of the changing tax rates resulting year to year from the
homestead deduction under IC 6-1.1-12-37(c)(2) and IC 6-1.1-12-37.5(c) and the deduction for eligible property under IC 6-1.1-12-47. It is the intent of the general assembly that an increase in
revenue from a change in tax rates resulting from these statutes accrue
only to the base assessed value and not to the tax increment financing
allocation area. However, in the case of a decrease in revenue from a
change in tax rates resulting from these statutes, the department may
neutralize the change under this subsection in a positive manner with
regard to the tax increment financing allocation area to protect the
ability to pay bonds based on incremental revenue, if the tax increment
financing allocation area demonstrates to the department that an
adjustment is needed before the department calculates a positive
neutralization adjustment.