Sec. 45. (a) Notwithstanding IC 6-3.6, after the termination of the controlled status of all townships located in a county as provided in section 41 of this chapter and if the local income tax is imposed under this chapter, the county fiscal body may adopt an ordinance to:
(1) grant a credit for homesteads that receive a standard deduction under IC 6-1.1-12-37 in the county; or
(2) reduce the local income tax rate for local taxpayers to a rate not less than the greater of:
(A) the minimum rate necessary to satisfy the requirements of section 43 of this chapter; or
(B) the minimum rate necessary to satisfy the requirements of sections 43 and 46(2) of this chapter if an ordinance is adopted under subdivision (1).
(b) The increase in the homestead credit percentage must be uniform for all homesteads in a county.
(c) In an ordinance that increases the homestead credit percentage, the county fiscal body may provide for a series of increases or decreases to take place for each of a group of succeeding calendar years.
(d) An ordinance may be adopted under this section after January 1 but before June 1 of a calendar year.
(e) An ordinance adopted under this section takes effect January 1 of the next calendar year.
(f) An ordinance adopted under this section for a county is not applicable for a year if on January 1 of that year the local income tax is not in effect.
[Pre-1992 Revision Citation: 12-2-14-39.]
As added by P.L.2-1992, SEC.14. Amended by P.L.113-2010, SEC.92; P.L.197-2016, SEC.112.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.