calendar year; and
(6) (7) any other information at the disposal of the county auditor
that might affect the assessed value used in the budget adoption
process.
(b) The estimate of taxes to be distributed shall be based on:
(1) the abstract of taxes levied and collectible for the current
calendar year, less any taxes previously distributed for the
calendar year; and
(2) any other information at the disposal of the county auditor
which might affect the estimate.
(c) The fiscal officer of each political subdivision shall present the
county auditor's statement to the proper officers of the political
subdivision.
(d) Subject to subsection (e) and except as provided in subsection
(f), after the county auditor sends a certified statement under subsection
(a) or an amended certified statement under this subsection with
respect to a political subdivision and before the department of local
government finance certifies its action with respect to the political
subdivision under section 16(f) of this chapter, the county auditor may
amend the information concerning assessed valuation included in the
earlier certified statement. The county auditor shall send a certified
statement amended under this subsection, under the seal of the board
of county commissioners, to:
(1) the fiscal officer of each political subdivision affected by the
amendment; and
(2) the department of local government finance.
(e) Except as provided in subsection (g), before the county auditor
makes an amendment under subsection (d), the county auditor must
provide an opportunity for public comment on the proposed
amendment at a public hearing. The county auditor must give notice of
the hearing under IC 5-3-1. If the county auditor makes the amendment
as a result of information provided to the county auditor by an assessor,
the county auditor shall give notice of the public hearing to the
assessor.
(f) Subsection (d) does not apply to an adjustment of assessed
valuation under IC 36-7-15.1-26.9(d).
(g) The county auditor is not required to hold a public hearing under
subsection (e) if:
(1) the amendment under subsection (d) is proposed to correct a
mathematical error made in the determination of the amount of
assessed valuation included in the earlier certified statement;
(2) the amendment under subsection (d) is proposed to add to the
amount of assessed valuation included in the earlier certified
statement assessed valuation of omitted property discovered after
the county auditor sent the earlier certified statement; or
(3) the county auditor determines that the amendment under
subsection (d) will not result in an increase in the tax rate or tax
rates of the political subdivision.".
in the year that immediately precedes the year for which the
qualifying individual wishes to obtain the credit under this
section multiplied by a fraction determined by the department
of local government finance for the county in which the
homestead is located. The numerator of the fraction is the
average homestead assessed value in the county in which the
homestead is located in the year immediately preceding the
year in which the qualifying individual wishes to obtain the
credit under this section and the denominator of the fraction
is the average homestead assessed value in Marion County in
the year immediately preceding the year in which the
qualifying individual wishes to obtain the credit under this
section.
(9) "Qualifying individual" means an individual:
(A) who is liable for the payment of property taxes on a
qualifying homestead;
(B) whose adjusted gross income for the individual's most
recent taxable year that ends before the date on which the
claim is filed under subsection (e) is less than seventy-five
thousand dollars ($75,000); and
(C) who is not married and has a net worth, or has a net
worth in combination with the net worth of the individual's
spouse, of less than two hundred thousand dollars
($200,000) as of December 31 of:
(i) with respect to real property, the year that precedes
by two (2) years the year for which the individual wishes
to obtain the credit under this section; and
(ii) with respect to a mobile home that is not assessed as
real property or a manufactured home that is not
assessed as real property, the year that immediately
precedes the year for which the individual wishes to
obtain the credit under this section.
(10) "Taxable year" has the meaning set forth in IC 6-3-1-16.
(b) The credit provided by this section applies in a county for
property taxes first due and payable in a calendar year only if the
county fiscal body of the county adopts an ordinance to apply the
credit before July 1 of the immediately preceding calendar year.
An ordinance adopted under this subsection may authorize the
credit for more than one (1) year.
(c) Except as provided in subsection (d), each year a qualifying
individual in a county in which the credit provided by this section
is authorized under subsection (b) may receive a credit against the
net property tax bill on the individual's qualifying homestead. The
amount of the credit to which a qualifying individual is entitled
equals the lesser of two thousand dollars ($2,000) or the remainder
of:
(1) the amount of the net property tax bill without the
application of the credit provided by this section; minus
(2) the following percentage of the qualifying individual's
adjusted gross income for the qualifying individual's most
recent taxable year that ends before the date on which the
claim is filed under subsection (e):
(A) Five percent (5%) if the adjusted gross income is less
than twenty thousand dollars ($20,000).
(B) Seven percent (7%) if the adjusted gross income is at
least twenty thousand dollars ($20,000) but less than fifty
thousand dollars ($50,000).
(C) Nine percent (9%) if the adjusted gross income is at
least fifty thousand dollars ($50,000) but less than
seventy-five thousand dollars ($75,000).
(d) If the qualifying individual resides in the qualifying
homestead with the qualifying individual's spouse, those
individuals are together entitled to one (1) credit under this section
for the qualifying homestead. The amount of the credit is
determined under subsection (c), except that the household income
is substituted for the qualifying individual's adjusted gross income.
(e) A qualifying individual or a qualifying individual and the
qualifying individual's spouse who desire to claim the credit
provided by this section must file a certified statement in duplicate,
on forms prescribed by the department of local government
finance, with the auditor of the county in which the qualifying
homestead is located. With respect to real property, the statement
must be filed after January 1 and before May 11 of the year before
the year for which the qualifying individual or the qualifying
individual and the qualifying individual's spouse wish to obtain the
credit under this section. For a mobile home that is not assessed as
real property or a manufactured home that is not assessed as real
property, the statement must be filed after January 1 and before
March 2 of the year for which the qualifying individual or the
qualifying individual and the qualifying individual's spouse wish to
obtain the credit under this section. The statement must contain
the following information:
(1) The full name or names and complete address of the
qualifying individual or the qualifying individual and the
qualifying individual's spouse.
(2) A description of the qualifying homestead.
(3) The amount of:
(A) the qualifying individual's adjusted gross income
referred to in subsection (c)(2); or
(B) if subsection (d) applies, the household income referred
to in subsection (d) of the qualifying individual and the
qualifying individual's spouse.
(4) The name of any other county and township in which the
qualifying individual or the qualifying individual's spouse
owns or is buying on contract:
(A) real property; or
(B) a:
(i) mobile home; or
(ii) manufactured home;
that is not assessed as real property.
(5) The record number and page where the contract or
memorandum of the contract is recorded if the qualifying
homestead is under contract purchase.
(6) Proof of net worth as of the date specified in subsection
(a)(9)(C):
(A) in a form determined by the department of local
government finance; and
(B) including:
(i) income tax returns or other evidence detailing gross
income; and
(ii) other documentation as determined by the
department of local government finance.
(7) Any other information required by the department of local
government finance.
(f) The auditor of a county with whom a statement is filed under
subsection (e) shall immediately prepare and transmit a copy of the
statement to the auditor of any other county if the qualifying
individual who claims the credit or the qualifying individual's
spouse owns or is buying property located in the other county as
described in subsection (e)(4). The auditor of the other county
described in subsection (e)(4) shall note on the copy of the
statement whether a credit has been claimed under this section for
a qualifying homestead located in the auditor's county. The auditor
shall then return the copy to the auditor of the first county.
(g) Subject to subsection (h), if a proper certified credit
statement is filed under subsection (e), the county auditor shall
allow the credit and shall apply the credit equally against each
installment of property taxes. The county auditor shall include the
amount of the credit applied against each installment of property
taxes on the tax statement required under IC 6-1.1-22-8.
(h) If the qualifying homestead qualifies for the credit under
IC 6-1.1-20.6 and a statement to claim the credit under this section
is filed under subsection (e), the county auditor shall:
(1) determine from the individual who filed the statement
whether the individual elects to have applied:
(A) the credit under this section; or
(B) the credit under IC 6-1.1-20.6; and
(2) apply only the credit elected by that individual as
determined under subdivision (1).
(i) If an individual knowingly or intentionally files a false
statement under this section, the individual must pay the amount
of any credit the individual received because of the false statement,
plus interest at the rate of ten percent (10%) per year, to the
county auditor for distribution to the taxing units of the county in
the same proportion that property taxes are distributed.
(j) The application of the credit under this section results in a
reduction of the property tax collections of each political
subdivision in which the credit is applied. A political subdivision
may not increase its property tax levy, by means of an increase in
the property tax rate or otherwise, to make up for that reduction.
(k) The reduction of the property tax collections of a political
subdivision that results from the application of the credit under
this section is not a basis for the political subdivision to obtain an
excessive tax levy under IC 6-1.1-18.5 or IC 6-1.1-19.
as added by this act, applies only to property taxes first due and
payable after December 31, 2007.".
Renumber all SECTIONS consecutively.
(Reference is to ESB 287 as printed April 6, 2007.)