Sec. 31.5. (a) This section applies only to Shelby County. (b) The executive of the county may, after approval by the fiscal body of the county, submit a petition to the department of local government finance requesting an increase in the county's maximum permissible ad valorem property tax levy for property taxes first due and payable in 2026. A petition must be submitted not later than September 1, 2025. (c) If the executive of the county submits a petition under subsection (b), the department of local government finance shall increase the county's maximum permissible ad valorem property tax levy for property taxes first due and payable in 2026. The amount of the increase under this section is equal to the difference between: (1) the lesser of: (A) the county's maximum permissible ad valorem property tax levy for property taxes first due and payable in 2025; or (B) the ad valorem property tax levy adopted by the county fiscal body for property taxes first due and payable in 2025; and (2) the county's ad valorem property tax levy as certified by the department of local government finance for property taxes first due and payable in 2025. (d) The adjustment under this section is a temporary, one (1) time increase to the county's maximum permissible ad valorem property tax levy for purposes of this chapter. (e) This section expires June 30, 2028.
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