Indiana Code 6-1.1-34-1. Department of local government finance computation of new assessment ratios for certain school corporations; publication of new ratios
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Terms Used In Indiana Code 6-1.1-34-1
- 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
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 1. In the year after a reassessment cycle of real property under a county’s reassessment plan prepared under IC 6-1.1-4-4.2 is completed the department of local government finance shall compute a new assessment ratio for each school corporation located in a county in which a supplemental county levy is imposed under IC 20-45-7 or IC 20-45-8. In all other years, the department shall compute a new assessment ratio for such a school corporation if the department finds that there has been sufficient reassessment or adjustment of one (1) or more classes of property in the school district. When the department of local government finance computes a new assessment ratio for a school corporation, the department shall publish the new ratio.
[Pre-1975 Property Tax Recodification Citations: 6-1-26-1(g); 6-1-66-2 part; 6-1-66-3 part; 6-1-66-4 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.90-2002, SEC.237; P.L.246-2005, SEC.68; P.L.182-2009(ss), SEC.170; P.L.112-2012, SEC.46; P.L.86-2018, SEC.63.