{"data":{"id":"us-in/ic-6-1.1-34-7","jurisdiction":"us-in","citation":"IC 6-1.1-34-7","heading":"Department of local government finance computation of new adjustment factors for school corporations; notice of new ratio; designated adjustment factor applies under certain circumstances","body":"Sec. 7. (a) Each year in which the department of local government finance computes a new assessment ratio for a school corporation, the department shall also compute a new adjustment factor for the school corporation. If the school corporation's assessment ratio for a year is more than ninety-nine percent (99%) but less than one hundred one percent (101%) of the state average assessment ratio for that year, the school corporation's adjustment factor is the number one (1). In all other cases, the school corporation's adjustment factor equals:\n(1) the state average assessment ratio for a year; divided by\n(2) the school corporation's assessment ratio for that year.\nThe department of local government finance shall notify the school corporation of its new adjustment factor before March 2 of the year in which the department calculates the new adjustment factor.\n(b) This subsection applies in a calendar year after which a cycle under a county's reassessment plan prepared under IC 6-1.1-4-4.2 is completed. If the department of local government finance has not computed a new assessment ratio for a school corporation, the school corporation's adjustment factor is the number one (1) until the department of local government finance notifies the school corporation of the school corporation's new adjustment factor.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 34. Determination of School Assessment Ratios and Adjustment Factors"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-34-7","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"3568ece47ccea6f538f95ad363cc21e789ca8157cf9a704694d91334726ac96c","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-34-6","next":"us-in/ic-6-1.1-34-8"},"notice":"GroundRules: Original legal text. Not legal advice."}