Legal Opinion
Lake County Property Tax Assessment Board of Appeals v. United States Steel Corp.
Indiana Supreme Court
Decided January 13, 2005No. 49S10-0309-TA-00401PublishedCited by 3 opinions
1Opinion of the Court
ON PETITION FOR REVIEW.
SULLIVAN, Justice.
The amount of property taxes payable for an individual piece of property is set by allocating the total dollar amount anticipated to be required to meet the revenue needs of the taxing district among all pieces of property in proportion to their assessed valuations. As such, the amount of property taxes payable for an individual piece of property will be a function of three major variables: (1) the assessed valuation of the individual piece of property; (2) the total dollar amount of revenue to be raised; and (8) the total assessed valuation of all the…
2Cases cited1 opinion
- U.S. Steel Corp. v. Lake County Property Tax Assessment Board of AppealsIndiana Tax Court · 2003
3Cited by3 opinions
- Dep't of Local Gov't Fin. v. Commonwealth Edison Co. of Ind.Indiana Supreme Court · 2005
- LOCAL GOV. FIN. v. Commonwealth EdisonIndiana Supreme Court · 2005
- PROPERTY TAX ASSESSMENT BD. OF APPEALS v. US Steel Corp.Indiana Supreme Court · 2005