IN HB1068

Establishes specific factors the Department of Local Government Finance (DLGF) must consider when a civil taxing unit requests a property tax levy increase for fire protection territory obligations, including pre-territory budgets/levies, population increases, and other factors

Allows ten or more taxpayers to petition the DLGF before July 1 of any year to request a reduction in the maximum property tax levy for a civil taxing unit that serves as the provider unit of a fire protection territory

Requires DLGF to consider population changes, assessed valuation changes, cost of fire service, comparisons to similar jurisdictions, previous tax rates, and future service needs when evaluating taxpayer petitions for levy reductions

Authorizes DLGF to reduce both the maximum permissible property tax levy and the actual property tax levy for the ensuing calendar year based on petition review

Effective date of July 1, 2012