Indiana Code Title 20. Education § 20-44-1-1

(1) the formulation of a budget by the proper legal officers of a school corporation;

(2) estimating the probable amount of tax revenue that the school corporation will collect on taxable property within the school corporation's jurisdiction for and during the year for which the budget is formulated and for which appropriations will be made;  and

(3) calculating the tax levy to be made for the ensuing year.

(1) consider the average percentage of actual tax collections, including delinquencies, from the taxable property during the past three (3) years not exceeding one hundred per cent (100%);  and

(2) estimate the probable amount of tax revenue by the use of the average percentage.