The purpose of this email is to inform you of the release of the LOIT Levy Freeze Certifications for 2014. These certifications can be found on the following webpage: http://www.in.gov/dlgf/2339.htm.
Three types of certifications are provided, depending on the county and its income tax structure:
· For counties that have not adopted a LOIT Levy Freeze rate, the attached certification provides the income tax rates that would be required to be adopted if the county decided to implement LOIT Levy Freeze.
· For counties that have a LOIT Levy Freeze rate and are currently “frozen” (meaning levy growth is currently provided through income tax revenue), the attached certification provides the income tax rate that would be necessary to be able to fund the full amount of allowable levy growth if the county were not “frozen.”
· For counties that have a LOIT Levy Freeze rate and are currently “thawed” (meaning levy growth is currently provided through property tax levy but it used to be provided through income tax revenue), the attached certification provides the income tax rate that would be necessary to be able to fund the levy growth that accumulated during the time the county was “frozen.”
This information is be provided pursuant to IC 6-3.5-1.5.
Counties that elect to implement or modify a LOIT Levy Freeze rate must notify the Department of Local Government Finance, the Department of Revenue and the State Budget Agency. Please review the following memo for instructions on how to notify these agencies of a change in local option income tax rates: http://www.in.gov/dlgf/files/130723_-_STATE_BUDGET_AGENCY_MEMO_-_SEA_544-2013_Notice_of_LOIT_Ordinance_Transmittal_Requirements_07_23_2013.pdf.
The individual county reports will be emailed separately to each county auditor and posted to the Department’s webpage under County Specific Information next week.
Questions on the attached certifications can be directed to Courtney Schaafsma, Budget Director, at firstname.lastname@example.org or 317-234-3937.