When the Carmel City Council passed its 2016 budget in October, it included a tax rate of 71.43 cents per $100 of assessed property value for homeowners, only about a penny increase from the 2015 rate of 70.07 cents.
But now that the property tax bills have reached Carmel mailboxes, residents are finding out that the actual rate for 2016 is 83.56 cents per $100, or 19 percent greater than the rate attached to the budget. For a home valued at $300,000, that’s about $400 more a year in city property taxes.
I had the opportunity to speak to a meeting of the International Association of Assessing Officers in Indianapolis last fall. That’s a group that does education and research about property tax assessment, and they’re a big help to assessing officials around the world. Mostly, I talked about farmland assessment in Indiana, but I mentioned some of our other property tax policies, too.
Source: Larry DeBoer: Circuit breakers, growth quotients and property taxes
Hamilton County officials are closely watching new-housing prices, knowing that local governments’ long-term financial security could depend on it.
CHICAGO | Chicago’s City Council easily approved a budget Wednesday with a massive property tax hike and other fees to help close a shortfall and improve the city’s underfunded pension system.
After nearly an hour of public comment and discussion, the Terre Haute City Council on Thursday voted 5 to 3 in support of a 10-year property tax abatement for a proposed new hotel on Terre Haute’s east side.
The tax abatement is for a new, $9.66 million Home2 Suites by Hilton being developed by Sycamore Hotel Partners near the intersection of Indiana 46 and Margaret Drive.
A Clarksville Redevelopment Commission decision to share $1.2 million with local schools over the next three years, to fund things such as laptops for students and digital whiteboard replacement, seemed “progressive” and “cutting edge” to Clarksville School Board President Bill Wilson — not because of the dollar amount or what it will pay for, but because of where the money is coming from.
INDIANAPOLIS — Indiana Farm Bureau delegates called for property tax relief and higher gas taxes during an annual delegate session Aug. 29.
More than 260 people from across the state met to discuss policies that will guide the organization through 2016. It’s the most important meeting of the year, said Don Villwock, president of Indiana Farm Bureau.
Chicago Mayor Rahm Emanuel’s proposed $588 million property tax hike would further widen the gap between his city’s tax burden and Northwest Indiana’s, making an eastward move across the state line even more attractive to residents and business owners open to leaving the city.
BLOOMINGTON, Ind. (Aug. 25, 2015) — A tax court ruled in favor of a CVS store in Bloomington, the latest in a series of cases that has county assessors calling for action.
Most governmental units receive the bulk of their funding from property taxes. The amount a property owner pays is determined by an assessed value. In Howard County, those assessed values have been in decline for years.