Indiana Code 6-1.1-34-8. State funds; distribution formula
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Terms Used In Indiana Code 6-1.1-34-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 8. For purposes of computing the amount of state funds to be distributed to a school corporation under a formula in which adjusted assessed valuation is a factor, the school corporation’s adjusted assessed valuation, except as otherwise specifically provided by law, equals the product of (1) the assessed valuation of the property within the school district, multiplied by (2) the school corporation’s current adjustment factor.
[Pre-1975 Property Tax Recodification Citation: 6-1-66-5.]
Formerly: Acts 1975, P.L.47, SEC.1.