Sec. 15.5. (a) A district may appeal to the department of local government finance to have a property tax rate in excess of the rate permitted by section 12 of this chapter. The appeal may be granted if the district with respect to 2001 property taxes payable in 2002:
(1) imposed the maximum property tax rate established under section 12 of this chapter; and
(2) collected property tax revenue in an amount less than the maximum permissible ad valorem property tax levy determined for the district under IC 6-1.1-18.5.
(b) The procedure applicable to maximum levy appeals under IC 6-1.1-18.5 applies to an appeal under this section.
(c) An additional levy granted under this section may not exceed the rate calculated to result in a property tax levy equal to the maximum permissible ad valorem property tax levy determined for the district under IC 6-1.1-18.5.
(d) The department of local government finance shall establish the tax rate if a higher tax rate is permitted.
As added by P.L.178-2002, SEC.88. Amended by P.L.146-2008, SEC.423.
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