2023 Indiana Code › Title 6. Taxation › Article 1.1. Property Taxes › Chapter 18. Limitations on Property Tax Rates and Appropriations › 6-1.1-18-28-b. Township's Petition for an Increase to Its Maximum Ad Valorem Property Tax Levy for Its Firefighting and Emergency Services Fund; Formula; Calculation

Note: This version of section effective 1-1-2024. See also preceding version of this section, effective until 1-1-2024.
Sec. 28. (a) The executive of a township may, upon approval by the township fiscal body, submit a petition to the department of local government finance for an increase in the township's maximum permissible ad valorem property tax levy for its township firefighting and emergency services fund under IC 36-8-13-4(a)(1) or the levies for the township firefighting fund and township emergency services fund described in IC 36-8-13-4(a)(2), as applicable, for property taxes for any year for which a petition is submitted under this section.
(b) If the township submits a petition as provided in subsection (a) before April 1 of a year, the department of local government finance shall increase the township's maximum permissible ad valorem property tax levy for the township firefighting and emergency services fund under IC 36-8-13-4(a)(1) or the combined levies for the township firefighting fund and township emergency services fund described in IC 36-8-13-4(a)(2), as applicable, for property taxes first due and payable in the immediately succeeding year by using the following formula for purposes of subsection (c)(2):
STEP ONE: Determine the percentage increase in the population, as determined by the township fiscal body and as may be prescribed by the department of local government finance, that is within the fire protection and emergency services area of the township during the ten (10) year period immediately preceding the year in which the petition is submitted under subsection (a). The township fiscal body may use the most recently available population data issued by the Bureau of the Census during the ten (10) year period immediately preceding the petition.
STEP TWO: Determine the greater of zero (0) or the result of:
(A) the STEP ONE percentage; minus
(B) six percent (6%);
expressed as a decimal.
STEP THREE: Determine a rate that is the lesser of:
(A) fifteen-hundredths (0.15); or
(B) the STEP TWO result.
STEP FOUR: Reduce the STEP THREE rate by any rate increase in the township's property tax rate or rates for its township firefighting and emergency services fund, township firefighting fund, or township emergency services fund, as applicable, within the immediately preceding ten (10) year period that was made based on a petition submitted by the township under this section.
(c) The township's maximum permissible ad valorem property tax levy for its township firefighting and emergency services fund under IC 36-8-13-4(a)(1) or the combined levies for the township firefighting fund and township emergency services fund described in IC 36-8-13-4(a)(2) for property taxes first due and payable in a given year, as adjusted under this section, shall be calculated as:
(1) the amount of the ad valorem property tax levy increase for the township firefighting and emergency services fund under IC 36-8-13-4(a)(1) or the combined levies for the township firefighting fund and township emergency services fund described in IC 36-8-13-4(a)(2), as applicable, without regard to this section; plus
(2) an amount equal to the result of:
(A) the rate determined under the formula in subsection (b); multiplied by
(B) the net assessed value of the fire protection and emergency services area divided by one hundred (100).
The calculation under this subsection shall be used in the determination of the township's maximum permissible ad valorem property tax levy under IC 36-8-13-4 for property taxes first due and payable in the first year of the increase and thereafter.
As added by P.L.154-2020, SEC.5. Amended by P.L.236-2023, SEC.28.