2020 Indiana Code
Title 6. Taxation
Article 1.1. Property Taxes
Chapter 18.5. Civil Government Property Tax Controls
6-1.1-18.5-25. Levy Limit Applicable to Municipalities With Certain Levels of Growth in Assessed Value and Population
Sec. 25. (a) The ad valorem property tax levy limits imposed under section 3 of this chapter do not apply to a municipality in a year if all the following apply:
(1) The percentage growth in the municipality's assessed value for the preceding year compared to the year before the preceding year is at least two (2) times the maximum levy growth quotient determined under section 2 of this chapter for the preceding year.
(2) The municipality's population increased by at least one hundred fifty percent (150%) between the last two (2) decennial censuses.
(b) A municipality that meets all the requirements under subsection (a) may increase its ad valorem property tax levy in excess of the limits imposed under section 3 of this chapter by a percentage equal to the lesser of:
(1) the percentage growth in the municipality's assessed value for the preceding year compared to the year before the preceding year; or
(2) six percent (6%).
(c) A municipality's maximum levy growth that results from either annexation or the pass through of assessed value from a tax increment financing district may not be included for the purposes of determining a municipality's maximum levy growth under this section.
(d) This section applies to property tax levies imposed after December 31, 2016.
As added by P.L.180-2016, SEC.11. Amended by P.L.159-2020, SEC.39.
