1-41 on the taxable property in the municipality. For purposes of this section, a county in which only the county economic development income tax (IC 6-3.5-7, repealed) was in effect on January 1, 2016, is considered a county in which the local income tax is not in effect unless the county increases, after 2015, the allocation of its local income tax revenue to property tax relief, public safety, or certified shares by an amount that is at least equal to the revenue raised from an income tax rate of twenty-five hundredths percent (0.25%).(b) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is either wholly or partially located in a county in which the local income tax is in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table: NUMBER TAX RATE PER $100 OF YEARS OF ASSESSED VALUATION 0 $0.0167 1 $0.0333 2 or more $0.05 (c) The maximum as previously imposed a tax under this chapter and is determined under the following table: NUMBER TAX RATE PER $100 OF YEARS OF ASSESSED VALUATION 0 $0.0167 1 $0.0333 2 or more $0.05 (c) The maximum property tax rate that may be imposed for property taxes first due and payable during a particular year in a municipality that is wholly located in a county in which the local income tax is not in effect on January 1 of that year depends upon the number of years the municipality has previously imposed a tax under this chapter and is determined under the following table: NUMBER TAX RATE PER $100 OF YEARS OF ASSESSED VALUATION 0 $0.0133 1 $0.0267 2 or more $0.04 As added by P.L.44-1984, SEC.17. Amended by P.L.17-1995, SEC.33; P.L.146-2008, SEC.792; P.L.197-2016, SEC.150.
Indiana Legal Code