Sec. 11. (a) This section applies only to a reservoir conservancy district established under IC 14-33-24.
(b) Notwithstanding IC 14-33-7-1(b) and IC 14-33-21-5, the maximum annual levy of the special benefits tax imposed by the board of a reservoir conservancy district established under IC 14-33-24 is two million dollars ($2,000,000). The department of local government finance shall annually calculate the special benefits tax rate of the reservoir conservancy district which, when applied to the assessed valuation of the real property located within the boundaries of the reservoir conservancy district and not exempt from the special benefits tax, will produce revenue in the amount of the annual levy determined by the board of the reservoir conservancy district. The amount of the annual levy may be less than two million dollars ($2,000,000) but may not exceed two million dollars ($2,000,000).
(c) The board of a reservoir conservancy district shall certify under section 5(a) of this chapter to the auditor of each county having land in the reservoir conservancy district the special benefits tax rate calculated by the department of local government finance under subsection (b) that will produce the revenue amount of the annual levy determined by the board of the reservoir conservancy district, which may be less than two million dollars ($2,000,000) but may not exceed two million dollars ($2,000,000).
(d) The assessed value growth quotient determined under IC 6-1.1-18.5-2 does not apply to the amount of the maximum annual levy that may be imposed under this section.
As added by P.L.148-2020, SEC.15.