Sec. 12. (a) If a payment of deferred property taxes is made, the county treasurer shall notify the county auditor, the county recorder, and the state board of accounts on the form and in the manner prescribed by the state board of accounts. Notice to the county recorder must be in the form of a release of the lien on the homestead for the deferred property taxes. Any payment of deferred property taxes made within a particular installment period must be delineated by taxing district throughout the settlement process. (b) When payment of deferred property taxes is made, the deferred property taxes shall be apportioned and distributed among the respective funds of the taxing units in the same manner as other property taxes are apportioned and distributed in the calendar year in which the payment of deferred property taxes is made.
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