§ 40-40-11 — County auditor to calculate and reduce tax rates - Extending tax levy

After the county auditor has available the data showing the total taxable valuation of a
municipality, the auditor shall calculate the necessary tax rates to produce the sums called for in
the final budget. If the auditor finds that any amount or amounts called for in the levy cannot be
produced by a tax rate within the limitation prescribed by the laws of this state, the auditor shall
reduce the amount so that it can be produced by a tax rate within legal limitations. The auditor
shall extend the levy, including the levy for judgments against the municipality, upon the tax lists
of the county for the current year against each description of real property and all personal
property within the municipality in the same manner and with the same effect as other taxes are
extended. The county auditor shall notify the governing body of the municipality at once of any
reductions made in the levy.