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.
Structure Indiana Code
Chapter 18.5. Civil Government Property Tax Controls
6-1.1-18.5-0.5. "Nonconforming"; Application
6-1.1-18.5-2. Assessed Value Growth Quotient
6-1.1-18.5-3. Maximum Ad Valorem Property Tax Levy; Formula
6-1.1-18.5-4.5. Levy Adjustment for Transfer of Duties Between Assessors
6-1.1-18.5-6. Taxable Property; Assessed Value
6-1.1-18.5-9. Exemption From Levy Limits; Major Bridge Fund
6-1.1-18.5-9.5. Application of Property Tax Levy Limits to Certain Port Authority Expenses
6-1.1-18.5-9.7. Ad Valorem Property Tax; Computation
6-1.1-18.5-10.2. Taxes Levied for Township Firefighting Fund; Treatment in Computation of Levy Limit
6-1.1-18.5-10.3. Levy Limit on Taxes by Library Board for Capital Projects Fund; Exemption
6-1.1-18.5-13. Types of Relief Available to Civil Taxing Unit in Appeal for Relief From Levy Limits
6-1.1-18.5-13.7. Adjustment of Certain Maximum Levies
6-1.1-18.5-13.9. Goshen Public Library; Maximum Levies
6-1.1-18.5-14. Department of Local Government Finance Correction of Certain Levy and Rate Errors
6-1.1-18.5-17. Civil Taxing Unit Levy Excess Fund; Use of Fund
6-1.1-18.5-19. Levy Limit on Taxes for Township Firefighting Fund
6-1.1-18.5-20. Exemption From Levy Limits; Local Airport Authorities
6-1.1-18.5-22.5. Gary Sanitary District
6-1.1-18.5-23. Adjustment of Certain Maximum Levies
6-1.1-18.5-24. Department of Local Government Finance Estimates of Maximum Tax Levies
6-1.1-18.5-27. Town of Winfield; Maximum Levies
6-1.1-18.5-28. Sugar Creek Township Fire Protection District; Maximum Levies