Indiana Code 6-1.1-34-5. Weighing classes of property within school district
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Sec. 5. When computing the assessment ratio for a school corporation, the department of local government finance shall weight the ratio to reflect the relative importance of each class of property within the school district. Before calculating a school corporation’s assessment ratio, the department of local government finance shall discuss the weight to be given to each class of property with:
(2) elected officials or other individuals who are familiar with the economic base of the school district.
(1) residents of the school district; and
Terms Used In Indiana Code 6-1.1-34-5
- 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
[Pre-1975 Property Tax Recodification Citation: 6-1-66-4 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.90-2002, SEC.241.