Indiana Code 36-7-30-26.5. Authorization to enter into an agreement with a taxpayer for waiver of review of an assessment of property taxes in an allocation area during the term of bonds or lease obligations payable from allocated property taxes
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Terms Used In Indiana Code 36-7-30-26.5
- bonds: means bonds, notes, evidences of indebtedness, or other obligations issued by the reuse authority in the name of the unit. See Indiana Code 36-7-30-1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- reuse authority: means a military base reuse authority established under section 3 of this chapter. See Indiana Code 36-7-30-1
- Statute: A law passed by a legislature.
Sec. 26.5. A reuse authority may enter into a written agreement with a taxpayer who owns, or is otherwise obligated to pay property taxes on, tangible property that is or will be located in an allocation area established under this chapter in which the taxpayer waives review of any assessment of the taxpayer’s tangible property that is located in the allocation area for an assessment date that occurs during the term of any specified bond or lease obligations that are payable from property taxes in accordance with an allocation provision for the allocation area and any applicable statute, ordinance, or resolution. An agreement described in this section may precede the establishment of the allocation area or the determination to issue bonds or enter into leases payable from the allocated property taxes.
As added by P.L.249-2015, SEC.29.