Section 50 IAC 26-7-8 - Calculation of property tax ratesAuthority: IC 6-1.1-31-1; IC 6-1.1-31.5-3.5
Affected: IC 6-1.1-31.5
Sec. 8.
(a) Tax and billing software must:(1) be able to accept data entry of an individual taxing unit fund rate; and(2) overwrite data entered fund rates with those provided by the department through the integration requirement under 50 IAC 26-11-2 if the two (2) rates differ and use the resulting set of rates for tax calculation.(b) Tax and billing software must be able to do the following: (1) Link a taxing unit's funds to the appropriate taxing district.(2) Aggregate individual: (A) taxing unit fund rates for any given taxing unit; and(B) fund rates for any given taxing district.Department of Local Government Finance; 50 IAC 26-7-8; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA