Indiana § 12-20-24-8 - Tax levy
Full text of Indiana Indiana Code § 12-20-24-8 — Tax levy, with citation guidance and answers to common questions.
§ 12-20-24-8. Tax levy
Sec. 8. (a) If a township board:
(1) appeals before August 1 for permission to borrow money;
(2) receives permission from:
(A) the board of commissioners or the county council, before July 1, 2006; or
(B) the department;
to borrow money before November 1 of that year; and
(3) borrows money under this chapter;
the township board shall levy a property tax beginning in the next succeeding year and continuing for the term of the loan in an amount each year that will be sufficient to pay the principal and interest due on the loan for the year.
(b) If a township board:
(1) appeals after August 1 for permission to borrow money;
(2) receives permission from:
(A) the board of commissioners or the county council, before July 1, 2006; or
(B) the department;
to borrow money; and
(3) borrows money in the year of the appeal under this chapter;
the township board shall levy a property tax beginning in the second succeeding year and continuing for the term of the loan in an amount each year that will be sufficient to pay the principal and interest due on the loan for the year.
(c) The property taxes levied under this section shall be retained by the township trustee and applied by the township trustee to retire the debt.
[Pre-1992 Revision Citation: 12-2-4.5-8.]
As added by P.L.2-1992, SEC.14. Amended by P.L.101-2000, SEC.10; P.L.90-2002, SEC.355; P.L.169-2006, SEC.40.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 12-20-24-8
What does Indiana Code § 12-20-24-8 cover?
Section 12-20-24-8 ("Tax levy") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 12-20-24-8?
A common citation format is "Indiana Code § 12-20-24-8" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 12-20-24-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.