Definitions

IC 5-13-6-3 allows counties to advance taxes to taxing units amounting to 95% of the amount such unit would get in a distribution of the taxes collected for the unit at the time of advancement. The term "taxes collected" includes property tax and license excise tax. The request for an advance tax draw must be filed at least thirty (30) days before the treasurer is required to make the advance. The Treasurer provides collection information to the Auditor and the following procedures should be followed:

1. The collections for each taxing district within the municipal corporation, as shown by the records of the county treasurer, should be multiplied by 95%.

2. Divide the answer under (1) by the total tax rate for the taxing district to obtain the factor to be used in apportioning the tax.

3. Multiply the factor by the tax rate for the fund for which the advance draw is requested, to arrive at the maximum amount which can be advanced.

4. Issue an application to pay and quietus in favor of the county treasurer for the amount to be advanced to the credit of the fund for which advanced and issue a warrant therefore in favor of the proper officer of the municipal corporation. The treasurer shall enter the advance on line 42 on the left side of the Daily Balance of Cash and Depositories and such amounts are deducted from the amount of total taxes collected shown on line 41. This will leave the total amount of taxes to be settled on line 43. It is imperative that advances be recorded by the treasurer to insure the proper amounts are distributed at Settlement.

A list of approved depositories may be found on the website of the Indiana Board for Depositories at http://www.in.gov/deposit/AppDep.htm. Any questions concerning the approved status of any depository listed or whether or not a new financial institution not listed is eligible should be directed to the Treasurer of State's office at (317) 232-6386.

Whenever any county auditor, treasurer, township assessor, county assessor, or county property tax assessment board believes that any taxable tangible property has been omitted from or undervalued on the assessment rolls or the tax duplicate, for any year or years, the official or board shall give written notice, served on or transmitted by mail, to the taxpayer of the intention of the official or board to assess or to increase the assessed valuation of such property describing it in general terms. [IC 6-1.1-9-1; 6-1.1-9-2] To add omitted property to the tax duplicate after same has been delivered to the treasurer, it is suggested that the county auditor enter the assessment and the taxes thereon on a sheet in the tax duplicate following the last item of original entry in the proper taxing district. Such added items are generally known as "auditor's assessments." Collections on such "auditor's assessments" are handled in the same manner as other tax collections.