Indiana Code — Title 6 (Taxation)
IC 6-1.1-47-7
Allocation of property taxes
Sec. 7. (a) For each year in which an ordinance adopted under section 2 of this chapter is in effect in a county, for each list submitted by a transferring entity under section 6 of this chapter, the county auditor shall allocate the property taxes collected for the items of real property on the list as follows:
# (1)
The percentage specified in an ordinance adopted under section 2 or 3 of this chapter, as applicable, to the transferring entity.
# (2)
One hundred percent (100%) minus the percentage described in subdivision (1) to the respective taxing districts in which the properties are located.
Subject to annual appropriation by the county fiscal body, the county auditor shall distribute amounts allocated under subdivision (1) to the transferring entity at the same time other property taxes are apportioned and distributed. The county auditor shall apportion and distribute the amounts allocated to a taxing district under subdivision (2) among the taxing units of that taxing district in the same manner and at the same time as other property taxes are apportioned and distributed.
(b) If an item of real property is listed on more than one (1) list that the county auditor receives under section 6 of this chapter, the county auditor shall make the allocation required under subsection (a)(1) to the transferring entity that transferred the item of real property most recently.
As added by P.L.110-2017, SEC.2.
Amendment history
As added by P.L.110-2017, SEC.2.
Source: view the official text
Nearby sections (25 sections)
- 6-1.1-46.2-7 · Entitlement to deduction; eligible vacant building used…
- 6-1.1-46.2-8 · Abatement schedule; duration
- 6-1.1-46.2-9 · Amount of deduction
- 6-1.1-46.2-10 · Process to claim deduction; compliance information
- 6-1.1-46.2-11 · Failure to comply with statement of benefits; hearing;
- 6-1.1-46.2-12 · Fee for filing an application; standards for granting a
- 6-1.1-47-1 · Definitions
- 6-1.1-47-2 · Adoption of ordinance
- 6-1.1-47-3 · Change of allocation percentage
- 6-1.1-47-4 · Rescission of ordinance
- 6-1.1-47-5 · Effective dates of ordinances
- 6-1.1-47-6 · Annual reports to county auditor
- 6-1.1-47-7 · Allocation of property taxes
- 6-1.1-48-1 · "Agricultural products"
- 6-1.1-48-2 · "Beginning farmer"
- 6-1.1-48-3 · "Designating body"
- 6-1.1-48-4 · "Limited resource farmer"
- 6-1.1-48-5 · "Municipality"
- 6-1.1-48-6 · "Municipally owned utility"
- 6-1.1-48-7 · "Partner organization"
- 6-1.1-48-8 · "Qualifying farmer"
- 6-1.1-48-9 · "Small or medium sized farmer"
- 6-1.1-48-10 · "Socially disadvantaged farmer"
- 6-1.1-48-11 · "Urban agricultural zone"
- 6-1.1-48-12 · Application requirements