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 cschaafsma@dlgf.in.gov or
317-234-3937.
