Sec. 0.7. (a) Before June 15 of each year after 2019, the fiscal officer of each political subdivision shall provide the department of local government finance with:
(1) an estimate of the total amount of the political subdivision's debt service obligations (as defined in IC 6-1.1-20.6-9.8) that will be due in the last six (6) months of the current year and in the ensuing year; and
(2) a report of any annexations that took place within the county and were effective on or after January 1 of the preceding year but before January 1 of the current year.
(b) Before July 15 of each year after 2017, the department of local government finance shall provide the following to each political subdivision:
(1) An estimate of the maximum property tax rate that may be imposed by the political subdivision for property taxes payable in the ensuing year for each cumulative fund or other fund for which a maximum property tax rate is established by law.
(2) An estimate of the property tax rates that would be imposed by the political subdivision for property taxes payable in the ensuing year for debt service.
(c) The department of local government finance shall before August 1 of each year after 2017 provide to each political subdivision an estimate of the maximum amount of net property tax revenue and miscellaneous revenue that the political subdivision will receive in the ensuing year if the political subdivision's property tax rates are imposed at the maximum allowed under law and if the political subdivision imposes the maximum permissible ad valorem property tax levy allowed under law for the political subdivision. In making each of the estimates under this subsection, the department of local government finance shall consider the estimated amount of any credits that will be granted under IC 6-1.1-20.6 against property taxes imposed by the political subdivision.
As added by P.L.184-2016, SEC.4. Amended by P.L.159-2020, SEC.21; P.L.38-2021, SEC.24.
Structure Indiana Code
Chapter 17. Procedures for Fixing and Reviewing Budgets, Tax Rates, and Tax Levies
6-1.1-17-0.3. "Nonconforming"; Application
6-1.1-17-0.7. Estimates of Debt Service; Property Tax Rates and Revenue; Report of Annexations
6-1.1-17-5.2. Veto of Ordinance After October 1
6-1.1-17-5.3. School Corporation Anticipated Transfer Amount
6-1.1-17-5.6. School Corporation Resolutions to Adopt Fiscal Year Budgets
6-1.1-17-7. Multiple County Political Subdivision; Filing Budget, Tax Levy, and Tax Rate
6-1.1-17-8.5. Review by Department if Assessed Value Reduced; Appeal
6-1.1-17-16.1. Political Subdivision Budget, Tax Rates, Levies; Public Hearing Request
6-1.1-17-16.2. No Approval of Budget or Supplemental Appropriations Due to Noncompliance
6-1.1-17-16.2-b. Certain Reports Required Before Approval of Budgets and Supplemental Appropriations
6-1.1-17-17. Increase in Tax Rate and Levy by Department of Local Government Finance
6-1.1-17-19. Conflicting Provisions
6-1.1-17-21. Powers and Duties of City Controller in Consolidated City