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Ind. Code § 6-1.1-21.2-16

Adjustment for tax benefit

As added by P.L.146-2008, SEC.241.

Sec. 16. (a) This section applies if the tax increment replacement amount for an allocation area in a district is less than zero (0).

(b) The governing body of a district shall increase the base assessed value of property in the allocation area to an amount sufficient so that the tax increment replacement amount is equal to zero (0).

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.