Authority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5

Affected: IC 6-1.1-31.5; IC 6-1.1-39-5; IC 8-22-3.5-9; IC 36-7

Sec. 10. (a) As used in this section, "unit" refers to a unit that collects property tax revenue for an allocation area pursuant to any of the following statutes:

1. (1) IC 6-1.1-39-5.
2. (2) IC 8-22-3.5-9.
3. (3) IC 36-7-14-1.
4. (4) IC 36-7-14.5-12.5.
5. (5) IC 36-7-15.1-1.
6. (6) IC 36-7-30-25.
7. (7) IC 36-7-32-17.

(b) Tax and billing software must be able to do the following:

1. (1) Account for the following:

   1. (A) The base assessed value:

      1. (i) for each parcel of real property; and
      2. (ii) of personal property for a particular taxpayer at a particular location.
   2. (B) Allocations, on a percentage or flat amount basis, of the base assessed value of the parcel due to parcel splits or parcel combinations.
   3. (C) Adjustments, on a percentage or flat amount basis, of the base assessed value of the parcel of real property, due to reassessment or annual trending adjustments.
2. (2) Reallocate the base by class of property, for example, loss of value for residential properties.
3. (3) Add parcels of real property and personal property to the allocation area.
4. (4) Delete parcels of real property and personal property from the allocation area.
5. (5) Display, by date of assessment, the base and incremental assessed value of each parcel of real property.

6. (6) Apply the following:

   1. (A) Either:

      1. (i) differing total gross or differing net tax rates; or
      2. (ii) both differing total gross and differing net tax rates;
   2. to different parcels of real property in an allocation area.
   3. (B) Differing net tax rates to real property and personal property in an allocation area.

7. (7) Aggregate the following:

   1. (A) Parcel calculations by property class.
   2. (B) The incremental assessed values of all properties within an allocation area.

8. (8) Edit the aggregate incremental value:

   1. (A) within a taxing district; or
   2. (B) for multiple taxing districts.
9. (9) Account for incremental assessed valuation by parcel.
10. (10) Exclude classes of property from aggregation of incremental values, for example, residential.
11. (11) Designate individual tax increment revenues parcels ineligible for state credits.
12. (12) Designate an allocation area with a unique identifier in a format prescribed by the department that must be carried over from one (1) pay year to the next and may not be reused in the event the allocation area expires.
13. (13) Designate the unit that established the allocation area.

(Department of Local Government Finance; 50 IAC 26-7-10; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR- 050100165FRA; filed May 9, 2018, 10:00 a.m.: 20180606-IR-050180006FRA; readopted filed Oct 4, 2024, 4:04 p.m.: 20241030-IR-050230833RFA)