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IN SB0303
Bill
Status
1/6/2016
Primary Sponsor
Howard Kenley
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AI Summary
Senate Bill 303 Summary
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Adds a new appeal option allowing civil taxing units to request property tax levy increases when their assessed value growth in the preceding year was at least two times the percentage growth allowed under the assessed value growth quotient for the ensuing year.
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Permits a civil taxing unit whose appeal is approved to increase its maximum property tax levy by a percentage equal to the percentage growth in its assessed value for the preceding calendar year.
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Amends IC 6-1.1-18.5-13 to add this new subdivision (14) as an additional relief option for property tax levy appeals.
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Takes effect upon passage with an emergency declaration included.
Legislative Description
Property tax levy appeals. Authorizes a civil taxing unit to request an increase in its maximum property tax levy for a year, if the department of local government finance finds that the growth in the civil taxing unit's assessed value in the preceding year was at least two times the percentage growth allowed for the civil taxing unit's tax levy under the assessed value growth quotient determined for the ensuing year. Provides that the civil taxing unit may increase its maximum property tax levy by a percentage equal to the percentage growth in the civil taxing unit's assessed value for
Last Action
First reading: referred to Committee on Tax & Fiscal Policy
1/6/2016