Indiana § 6-1.1-22.1-2 "Qualified taxing unit"

Indiana Statutes

§ 6-1.1-22.1-2 — "Qualified taxing unit"

Indiana § 6-1.1-22.1-2

Art. 1.1PROPERTY TAXES

Ch. 22.1Loans to Qualified Taxing Units in Lake County

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Bluebook

Ind. Code § 6-1.1-22.1-2 (2026).

Text

As used in this chapter, "qualified taxing unit" means a city, township, or school corporation located in Lake County that experienced a property tax revenue shortfall in one (1) or more tax years:

(1)that resulted from erroneous assessed valuation figures being provided to the city, township, or school corporation; and

(2)for which the aggregate property tax revenue shortfall the city, township, or school corporation experienced, or will experience, is at least:

(A)five million dollars ($5,000,000); or

(B)twenty percent (20%) of its net tax levy; in any single tax year as a result of the erroneous assessed valuation figures referred to in subdivision (1).

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As used in this chapter, "qualified taxing
unit" means a city, township, or school corporation located in Lake
County that experienced a property tax revenue shortfall in one (1) or
more tax years:
(1) that resulted from erroneous assessed valuation figures being
provided to the city, township, or school corporation; and
(2) for which the aggregate property tax revenue shortfall the city,
township, or school corporation experienced, or will experience,
is at least:
(A) five million dollars ($5,000,000); or
(B) twenty percent (20%) of its net tax levy;
in any single tax year as a result of the erroneous assessed
valuation figures referred to in subdivision (1).