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Introduced House Bill (H)

DIGEST

Civil government property tax controls. Provides that for years after 2020 an assessed value growth quotient is determined individually for each taxing unit. Provides that the assessed value growth quotient for a taxing unit is determined by a formula that is based on: (1) the average growth in the taxing unit's net assessed value; and (2) the average circuit breaker losses experienced by a taxing unit. Eliminates Indiana nonfarm personal income as a factor in computing an assessed value growth quotient. Civil government property tax controls. Provides that for years after 2020 an assessed value growth quotient is determined individually for each taxing unit. Provides that the assessed value growth quotient for a taxing unit is determined by a formula that is based on: (1) the average growth in the taxing unit's net assessed value; and (2) the average circuit breaker losses experienced by a taxing unit. Eliminates Indiana nonfarm personal income as a factor in computing an assessed value growth quotient.