IN HB1250

Adjusts the maximum permissible ad valorem property tax levy limits for civil taxing units to restore unused levy capacity that would have existed if no definition changes had occurred after calendar year 2004.

Requires the Department of Local Government Finance to make a permanent adjustment to each civil taxing unit's maximum permissible ad valorem property tax levy for the preceding calendar year by July 1, 2013.

Calculates the adjusted levy by determining what each civil taxing unit's maximum permissible levy would have been for 2013 under the statutory language as it existed in each year from 2004-2013, using the greater of the calculated maximum levy or the actual levy imposed.

Removes temporary excessive levy appeal provisions related to property taxes for March 1, 2010 and January 15, 2011 assessment dates.

Effective July 1, 2013, with the adjusted levies applying to property taxes first due and payable beginning January 1, 2014.