Sec. 5. When computing the assessment ratio for a school corporation, the department of local government finance shall weight the ratio to reflect the relative importance of each class of property within the school district. Before calculating a school corporation's assessment ratio, the department of local government finance shall discuss the weight to be given to each class of property with:
(1) residents of the school district; and
(2) elected officials or other individuals who are familiar with the economic base of the school district.
[Pre-1975 Property Tax Recodification Citation: 6-1-66-4 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.90-2002, SEC.241.