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Indiana Code — Title 6 (Taxation)

IC 6-1.1-34-7

Department of local government finance computation of new

Official textiga.in.govlast amended

adjustment factors for school corporations; notice of new ratio; designated adjustment factor applies under certain circumstances
Sec. 7. (a) Each year in which the department of local government finance computes a new assessment ratio for a school corporation, the department shall also compute a new adjustment factor for the school corporation. If the school corporation's assessment ratio for a year is more than ninety-nine percent (99%) but less than one hundred one percent (101%) of the state average assessment ratio for that year, the school corporation's adjustment factor is the number one (1). In all other cases, the school corporation's adjustment factor equals:

# (1)

the state average assessment ratio for a year; divided by

# (2)

the school corporation's assessment ratio for that year.
The department of local government finance shall notify the school corporation of its new adjustment factor before March 2 of the year in which the department calculates the new adjustment factor.

(b) This subsection applies in a calendar year after which a cycle under a county's reassessment plan prepared under IC 6-1.1-4-4.2 is completed. If the department of local government finance has not computed a new assessment ratio for a school corporation, the school corporation's adjustment factor is the number one (1) until the department of local government finance notifies the school corporation of the school corporation's new adjustment factor.
[Pre-1975 Property Tax Recodification Citations: 6-1-66-2 part; 6-1-66-4 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.273-1999, SEC.131; P.L.90-2002, SEC.243; P.L.224-2003, SEC.138; P.L.182-2009(ss), SEC.171; P.L.112-2012, SEC.47;
P.L.86-2018, SEC.64.

Amendment history

Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.273-1999, SEC.131; P.L.90-2002, SEC.243; P.L.224-2003, SEC.138; P.L.182-2009(ss), SEC.171; P.L.112-2012, SEC.47; P.L.86-2018, SEC.64.

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Nearby sections (25 sections)
  1. 6-1.1-33.5-4 · Powers
  2. 6-1.1-33.5-5 · Confidentiality of information
  3. 6-1.1-33.5-6 · Review; special reassessments
  4. 6-1.1-33.5-7 · Expenditure reports by political subdivision; per capita
  5. 6-1.1-33.5-8 · Administration of data base by contractor
  6. 6-1.1-33.5-9 · Repealed
  7. 6-1.1-34-1 · Department of local government finance computation of new
  8. 6-1.1-34-2 · Computation of school corporation assessment ratio
  9. 6-1.1-34-3 · Repealed
  10. 6-1.1-34-4 · Random samplings of assessed values and true tax values
  11. 6-1.1-34-5 · Weighing classes of property within school district
  12. 6-1.1-34-6 · Notice of new assessment ratio
  13. 6-1.1-34-7 · Department of local government finance computation of new
  14. 6-1.1-34-8 · State funds; distribution formula
  15. 6-1.1-34-9 · Department of local government finance; powers and duties
  16. 6-1.1-34-10 · Withholding access to official records
  17. 6-1.1-34-11 · Confidential information
  18. 6-1.1-34-12 · Repealed
  19. 6-1.1-35-1 · Duties of department of local government finance
  20. 6-1.1-35-1.1 · Repealed
  21. 6-1.1-35-2 · Visit or virtual meeting with county by department of local
  22. 6-1.1-35-3 · Instructional sessions; lodging, subsistence, and mileage
  23. 6-1.1-35-4 · Township assessors; instructional meetings
  24. 6-1.1-35-5 · Township assessors; incompetency reported to department of
  25. 6-1.1-35-6 · Repealed
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