Ind. Code § 6-1.1-22.1-2

Current through P.L. 171-2024

Section 6-1.1-22.1-2 - "Qualified taxing unit"

As used in this chapter, "qualified taxing unit" means a city, township, or school corporation located in Lake County that experienced a property tax revenue shortfall in one (1) or more tax years:

(1) that resulted from erroneous assessed valuation figures being provided to the city, township, or school corporation; and

(2) for which the aggregate property tax revenue shortfall the city, township, or school corporation experienced, or will experience, is at least:

(A) five million dollars ($5,000,000); or

(B) twenty percent (20%) of its net tax levy;

in any single tax year as a result of the erroneous assessed valuation figures referred to in subdivision (1).

IC 6-1.1-22.1-2

Added by P.L. 236-2023,SEC. 43, eff. 7/1/2023.