Sec. 15. (a) As the special assessment or tax imposed under this chapter is collected by the county treasurer, it shall be transferred to the governing body and accumulated and kept in the special fund for the allocation area.

     (b) A special assessment or tax levied under this chapter is not subject to IC 6-1.1-20.

Terms Used In Indiana Code 6-1.1-21.2-15

  • allocation area: refers to an area that is established under the authority of any of the following statutes and in which tax increment revenues are collected:

    Indiana Code 6-1.1-21.2-3

  • district: refers to the following:

    Indiana Code 6-1.1-21.2-5

  • governing body: means the following:

    Indiana Code 6-1.1-21.2-6

  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • special fund: means :

    Indiana Code 6-1.1-21.2-8

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (c) A special assessment or tax levied under this chapter and the use of revenues from a special assessment or tax levied under this chapter by a governing body do not create a constitutional or statutory debt, pledge, or obligation of the governing body, the district, or any county, city, town, or township.

     (d) The ad valorem property tax levy limits imposed by IC 6-1.1-18.5-3 or another provision of IC 6-1.1-18.5 do not apply to a special assessment or tax imposed under this chapter. For purposes of computing the ad valorem property tax levy limit imposed on a civil taxing unit under IC 6-1.1-18.5-3 or another provision of IC 6-1.1-18.5, the civil taxing unit’s ad valorem property tax levy for a particular calendar year does not include a special assessment or tax imposed under this chapter.

As added by P.L.192-2002(ss), SEC.44. Amended by P.L.224-2007, SEC.40; P.L.146-2008, SEC.240; P.L.182-2009(ss), SEC.155.

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