Indiana Code 6-3.6-1-1.5. Transition of certain homestead credits to the property tax relief rate
(b) To accomplish the transition under this section, the department of local government finance shall determine the portion of the income tax rate under IC 6-3.5-6-8 (before its repeal January 1, 2017) that is attributable to the homestead credit approved under IC 6-3.5-6-13 (before its repeal January 1, 2017) and shall allocate that portion of the income tax rate that is attributable to the homestead credit under IC 6-3.5-6-13 (before its repeal January 1, 2017) to the property tax relief rate under IC 6-3.6-5.
Terms Used In Indiana Code 6-3.6-1-1.5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(d) The approval of the local income tax council is not required for the transition of the homestead credit under IC 6-3.5-6-13 (before its repeal January 1, 2017) to a property tax relief rate as set forth in this section.
As added by P.L.197-2016, SEC.41.