{"data":{"id":"us-in/ic-6-1.1-12.1-12.5","jurisdiction":"us-in","citation":"IC 6-1.1-12.1-12.5","heading":"Distribution of reimbursement, repayment, or penalty imposed for failure to comply with requirements","body":"Sec. 12.5. Except as provided in section 12(f) of this chapter, if a county or municipality receives a reimbursement, repayment, or penalty from a taxpayer on account of the taxpayer's failure to comply with the statement of benefits provided by the taxpayer or on account of the taxpayer's failure to comply with any other requirement to receive a deduction under this chapter, the county or municipal fiscal officer shall distribute the amount of the reimbursement, repayment, or penalty on a pro rata basis to each taxing unit that contains the property that was subject to the deduction. The amount to be distributed to each taxing unit that contains the property that was subject to the deduction shall be determined according to the following formula:\nSTEP ONE: Determine the total aggregate property tax rate imposed in the preceding year by the taxing unit.\nSTEP TWO: Determine the sum of the STEP ONE amounts for all taxing units that contain the property that was subject to the deduction.\nSTEP THREE: Divide the STEP ONE amount by the sum determined under STEP TWO.\nSTEP FOUR: Multiply the amount of the reimbursement, repayment, or penalty by the STEP THREE quotient.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 12.1. Deduction for Rehabilitation or Redevelopment of Real Property in Economic Revitalization Areas"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-12.1-12.5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"0379eeccef4a11bc7a24191840075793e3b0371705149a2f5e3abf6bfa055d8d","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-12.1-12","next":"us-in/ic-6-1.1-12.1-13"},"notice":"GroundRules: Original legal text. Not legal advice."}