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IN HB1104

Bill

Official Source

Status

Introduced

1/5/2010

Primary Sponsor

Vernon Smith

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Changes the condition for Lake County's assessed value growth quotient calculation by requiring only that a local option income tax (LOIT) for property tax relief be in effect, rather than requiring a specific 1% LOIT rate
  • Sets Lake County's assessed value growth quotient at one (1) for determining maximum property tax levy unless the county imposes any LOIT for property tax relief
  • Applies to civil taxing units in Lake County for property taxes first due and payable after December 31, 2007
  • Declared an emergency measure, taking effect immediately upon passage
  • Amends IC 6-1.1-18.5-2

Legislative Description

Revised Lake County levy limit based on LOIT.

Last Action

First reading: referred to Committee on Ways and Means

1/5/2010

Full Bill Text

No bill text available