Section 6-1.1-17-8.5 - Review by department if assessed value reduced; appeal(a) If a county auditor reduces a taxing unit's net assessed valuation under section 0.5(d) of this chapter, the department of local government finance shall, in the manner prescribed in section 16 of this chapter, review the budget, tax rate, and tax levy of the taxing unit.(b) The county auditor may appeal to the department of local government finance to reduce a taxing unit's net assessed valuation by an amount that exceeds the limits set forth in section 0.5(e) of this chapter. The department of local government finance: (1) may require the county auditor to submit supporting information with the county auditor's appeal;(2) shall consider the appeal at the time of the review required by subsection (a); and(3) may approve, modify and approve, or reject the amount of the reduction sought in the appeal.Amended by P.L. 137-2012, SEC. 25, eff. 7/1/2012.As added by P.L. 154-2006, SEC.43.