Indiana Code Title 36. Local Government § 36-8-19-13

Sec. 13. (a) If a unit or fire protection district elects to withdraw from a fire protection territory established under this chapter, the unit or fire protection district must after January 1 but before April 1, adopt an ordinance (in the case of a county or municipality) or a resolution (in the case of a township or fire protection district) providing for the withdrawal.  However, if one (1) unit or fire protection district has adopted an ordinance or resolution after January 1 and before April 1 to withdraw from the fire protection territory, any remaining unit or fire protection district may also adopt an ordinance or resolution to withdraw from the fire protection territory before the later of:

An ordinance or resolution adopted under this section is effective January 1 of the year immediately following the year in which the ordinance or resolution is adopted.

(b) If an ordinance or a resolution is adopted under subsection (a), for purposes of determining a unit's or fire protection district's maximum permissible ad valorem property tax levy for the year following the year in which the ordinance or resolution is adopted, the unit or fire protection district receives a percentage of the territory's maximum permissible ad valorem property tax levy equal to the percentage of the assessed valuation that the unit or fire protection district contributed to the territory in the year in which the ordinance or resolution is adopted.  The department of local government finance shall adjust the territory's maximum permissible ad valorem property tax levy to account for the unit's or fire protection district's withdrawal.  After the effective date of an ordinance or resolution adopted under subsection (a), the unit or fire protection district may no longer impose a tax rate for an equipment replacement fund under section 8.5 of this chapter.  The unit or fire protection district remains liable for the unit's or fire protection district's share of any debt incurred under section 8.5 of this chapter.

(c) If a territory is dissolved, subsection (b) applies to the determination of the maximum permissible ad valorem property tax levy of each unit or fire protection district that formerly participated in the territory.