2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 18.5. Civil Government Property Tax Controls
6-1.1-18.5-13.8. Clark County maximum levy adjustment
Sec. 13.8. (a) This section applies only to Clark County.
(b) If the county fiscal body adopts a resolution:
(1) setting forth a finding that the county's maximum permissible ad valorem property tax levy needs to be increased in excess of the limitations established under section 3 of this chapter because of the need for a permanent increase in the maximum levy as evidenced by increases to the county's levy to pay judgment funding bonds in previous years; and
(2) approving the submission of a petition by the county executive with the department;
the county executive may submit a petition to the department requesting an increase in the county's maximum permissible ad valorem property tax levy. Before submitting the petition, the county executive must adopt a resolution approving the petition. The petition must be submitted before November 1, 2017.
(c) If a proper petition is submitted, the department shall increase the county's maximum permissible ad valorem property tax levy for property taxes first due and payable in 2018. The amount of the increase under this section is the product of:
(1) the amount of the Judgment Funding Bonds of 2016 issued by the county; multiplied by
(2) a percentage specified in the resolution adopted by the county fiscal body under subsection (b) and agreed to in the resolution adopted by the county executive under subsection (b), but not to exceed one hundred percent (100%).
The increase is a permanent increase in the county's maximum permissible ad valorem property tax levy for purposes of determining the county's maximum permissible ad valorem property tax levy after 2018.
(d) If the county incurs bonded indebtedness to pay for a judgment when a petitioner is a public official, the maximum permissible property tax levy for the county shall be reduced by the amount of the levy attributable to the tax rate necessary to pay the bond.
(e) This section expires June 30, 2020.
As added by P.L.199-2017, SEC.1.
