Sec. 7. (a) For each year in which an ordinance adopted under section 2 of this chapter is in effect in a county, for each list submitted by a transferring entity under section 6 of this chapter, the county auditor shall allocate the property taxes collected for the items of real property on the list as follows:

(1) The percentage specified in an ordinance adopted under section 2 or 3 of this chapter, as applicable, to the transferring entity.

Terms Used In Indiana Code 6-1.1-47-7

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) One hundred percent (100%) minus the percentage described in subdivision (1) to the respective taxing districts in which the properties are located.

Subject to annual appropriation by the county fiscal body, the county auditor shall distribute amounts allocated under subdivision (1) to the transferring entity at the same time other property taxes are apportioned and distributed. The county auditor shall apportion and distribute the amounts allocated to a taxing district under subdivision (2) among the taxing units of that taxing district in the same manner and at the same time as other property taxes are apportioned and distributed.

     (b) If an item of real property is listed on more than one (1) list that the county auditor receives under section 6 of this chapter, the county auditor shall make the allocation required under subsection (a)(1) to the transferring entity that transferred the item of real property most recently.

As added by P.L.110-2017, SEC.2.

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