Sec. 9.5. (a) This section applies only to credits under this chapter against property taxes first due and payable after December 31, 2006.
(b) The application of the credit under this chapter results in a reduction of the property tax collections of each political subdivision in which the credit is applied. Except as provided in IC 20-46-1 and IC 20-46-9, a political subdivision may not increase its property tax levy to make up for that reduction.
(c) A political subdivision may not borrow money to compensate the political subdivision or any other political subdivision for the reduction of property tax collections referred to in subsection (b).
As added by P.L.162-2006, SEC.13. Amended by P.L.172-2011, SEC.41; P.L.218-2013, SEC.11; P.L.272-2019, SEC.2.
Structure Indiana Code
Chapter 20.6. Credit for Excessive Property Taxes
6-1.1-20.6-0.3. General Assembly Findings
6-1.1-20.6-0.5. "Agricultural Land"
6-1.1-20.6-1.2. "Common Areas"
6-1.1-20.6-1.6. "Gross Assessed Value"
6-1.1-20.6-2.3. "Long Term Care Property"
6-1.1-20.6-2.4. "Manufactured Home"; "Mobile Home"
6-1.1-20.6-2.5. "Nonresidential Real Property"
6-1.1-20.6-3. "Property Tax Liability"
6-1.1-20.6-4. "Residential Property"
6-1.1-20.6-7. Calculation of Credit
6-1.1-20.6-7.5. Calculation of Credit
6-1.1-20.6-8. Exemption From Filing Requirement
6-1.1-20.6-8.5. Additional Credit for Certain Homesteads; Eligibility and Filing Requirements
6-1.1-20.6-9.5. Effect of Credit on Revenues
6-1.1-20.6-9.8. Allocation of Taxes Exempted From Credit
6-1.1-20.6-9.9. Allocation of Credits by Eligible School Corporations
6-1.1-20.6-10. Payment of Debt Service Obligations
6-1.1-20.6-11. Report; Effect of Circuit Breaker on Taxing Unit Revenues
6-1.1-20.6-12. Application of Credit of Excise Tax Distribution Calculations
6-1.1-20.6-13. Allocation of Credits by Distressed Political Subdivisions