Sec. 24. (a) Before July 15 of each year, the department of local government finance shall provide to each taxing unit that levies property taxes an estimate of the maximum permissible property tax levies under section 3 of this chapter that will apply for the ensuing calendar year.

     (b) The department’s estimates shall, as necessary, provide guidance on calculating allowable adjustment to the maximum permissible property tax levies under section 3 of this chapter.

     (c) The department’s estimate under this section is not binding for the purposes of budget adoption by a taxing unit.

As added by P.L.184-2016, SEC.19.