Indiana Code 6-1.1-18.5-20. Exemption from levy limits; local airport authorities
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Sec. 20. (a) The ad valorem property tax levy limits imposed by section 3 of this chapter do not apply to ad valorem property taxes imposed by a local airport authority under IC 8-22-3-25 for a cumulative building fund.
(b) For purposes of computing the ad valorem property tax levy limits imposed on a civil taxing unit by section 3 of this chapter, a local airport authority’s ad valorem property tax levy for a calendar year does not include that part of its levy that is levied under IC 8-22-3-25 for a cumulative building fund.
As added by P.L.19-1994, SEC.2.
Terms Used In Indiana Code 6-1.1-18.5-20
- Civil taxing unit: means any taxing unit except a school corporation. See Indiana Code 6-1.1-18.5-1
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5