A school corporation's assessment ratio for a particular year equals:

1. (1) the total assessed valuation of the property within the school district; divided by

2. (2) the total true tax value which the department of local government finance determines would result if the property within the school district were valued in the manner provided by law.

   [Pre-1975 Property Tax Recodification Citations: 6-1-66-2 part; 6-1-66-4 part.]

   Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.24-1986, SEC.27; P.L.90-2002, SEC.238.