Indiana § 36-3-2-12 - Definitions; "PILOTS"; adoption of ordinance; calculation; imposition; deposited in housing trust fund; due date

§ 36-3-2-12. Definitions; "PILOTS"; adoption of ordinance; calculation; imposition; deposited in housing trust fund; due date

Sec. 12. (a) PILOTS may be imposed under this section for an assessment date occurring after December 31, 2021.

(b) As used in this section, the following terms have the meanings set forth in IC 6-1.1-1:

(1) Assessed value.

(2) Exemption.

(3) Owner.

(4) Person.

(5) Property taxation.

(6) Real property.

(7) Township assessor.

(c) As used in this section, "PILOTS" means payments in lieu of taxes.

(d) As used in this section, "property owner" means the owner of real property described in IC 6-1.1-10-16.7 that is located in a county with a consolidated city.

(e) Subject to the approval of a property owner, the legislative body of the consolidated city may adopt an ordinance to require the property owner to pay PILOTS at times set forth in the ordinance with respect to real property that is subject to an exemption under IC 6-1.1-10-16.7. The ordinance remains in full force and effect until repealed or modified by the legislative body, subject to the approval of the property owner.

(f) The PILOTS must be calculated so that the PILOTS are in an amount that is:

(1) agreed upon by the property owner and the legislative body of the consolidated city;

(2) a percentage of the property taxes that would have been levied by the legislative body for the consolidated city and the county upon the real property described in subsection (e) if the property were not subject to an exemption from property taxation; and

(3) not more than the amount of property taxes that would have been levied by the legislative body for the consolidated city and county upon the real property described in subsection (e) if the property were not subject to an exemption from property taxation.

(g) PILOTS shall be imposed as are property taxes and shall be based on the assessed value of the real property described in subsection (e). Except as provided in subsection (j), the township assessor, or the county assessor if there is no township assessor for the township, shall assess the real property described in subsection (e) as though the property were not subject to an exemption.

(h) PILOTS collected under this section shall be deposited in the housing trust fund established under IC 36-7-15.1-35.5 and used for any purpose for which the housing trust fund may be used.

(i) PILOTS shall be due as set forth in the ordinance and bear interest, if unpaid, as in the case of other taxes on property. PILOTS shall be treated in the same manner as taxes for purposes of all procedural and substantive provisions of law.

(j) If the duties of the township assessor have been transferred to the county assessor as described in IC 6-1.1-1-24, a reference to the township assessor in this section is considered to be a reference to the county assessor.

As added by P.L.74-2021, SEC.5.

IC 36-3-3Chapter 3. Executive Authorities

36-3-3-1Application of chapter 36-3-3-2Mayor as executive; election; qualifications; term of office 36-3-3-3Deputy as acting executive; designation; powers; certification; president of legislative body as acting executive 36-3-3-4Residence; vacancy in office 36-3-3-5Supervision of work of departments, special service districts, and special taxing districts 36-3-3-6Approval or veto of ordinances and resolutions 36-3-3-7Investigation of work and reports; examination of records 36-3-3-8Appointment powers 36-3-3-9Performance of duties and exercise of powers; restrictions 36-3-3-10Board of commissioners of county; members; powers and duties