Indiana Code 20-44-1-1. Determination; taxable property
Current as of: 2024 | Check for updates
|
Other versions
Sec. 1. (a) This section applies in:
(2) estimating the probable amount of tax revenue that the school corporation will collect on taxable property within the school corporation’s jurisdiction for and during the year for which the budget is formulated and for which appropriations will be made; and
(1) the formulation of a budget by the proper legal officers of a school corporation;
Terms Used In Indiana Code 20-44-1-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) calculating the tax levy to be made for the ensuing year.
(b) The officers shall:
(1) consider the average percentage of actual tax collections, including delinquencies, from the taxable property during the past three (3) years not exceeding one hundred per cent (100%); and
(2) estimate the probable amount of tax revenue by the use of the average percentage.
[Pre-2006 Recodification Citation: 21-4-22-1.]
As added by P.L.2-2006, SEC.167.