Indiana recently amended certain provisions of its state statutes and regulations relating to the state’s real property tax sale notice requirements and dollar amount threshold for high cost loans. These changes are effective July 1, 2018.
Tax breaks for some significant industrial and commercial investments in Terre Haute are making their way through the approval process. The procedure requires two votes by the City Council, the mayor’s signature and action by the city’s Board of Public Works and Safety.
The public works board signed off Tuesday on property tax abatements totaling $4.4 million on $48 million in investments that businesses say will create or retain 158 jobs with annual payrolls totaling $8.2 million. Salaries would range from $42,567 to $75,000.
In April, the Indiana Supreme Court handed Kohl’s Corp. a victory when it agreed not to review a lowered property assessment that was awarded to one of Kohl’s stores because of the growing vacancy and dropping values of other shopping centers in its area.
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A Hendricks County lodge that hosts both charitable and social events cannot qualify for tax exempt status because the organization that owns the lodge failed to prove it is a fraternal association or that the use of the lodge is for predominantly charitable purposes, the Indiana Tax Court has ruled.
An outside review of commercial property assessments is the first recommendation from a group working for more efficiency in Terre Haute and Vigo County government.
A 10-member team study team chaired by restaurant owner Scott Womack released a report Wednesday charging that under-assessment is costing the city and county millions of dollars in property tax revenues.
It is just one of more than 600 properties that are up for sale at Vanderburgh County’s annual tax sale. But a century old building on Evansville’s west side is emblematic of what some describe as a broken system.
Built in the early 1900s, the former Howell Mortage Bank at 3000 Broadway Avenue has been a frequent flyer on the county’s tax sale list. According to property records, it has gone unsold at the annual tax sale every year since at least 2013. It has had five different owners — many of whom are limited liability companies — in the past decade.
GRIFFITH — The Town Council has withdrawn its 2016 petition to leave Calumet Township and said it will soon file a new one.
“There is no stopping our effort to leave the township,” Council President Rick Ryfa, R-3rd, said.
The late, great George Carlin had a routine about a weather forecaster.
“The forecast for tonight: dark. Continued dark throughout the night, with scattered light in the morning.”
Some predictions are easy.
Predicting the base rate of farmland used to be easy too. The base rate is the starting point for setting the assessed value of farmland for property taxes. The Indiana Department of Local Government Finance recalculates it every year with a capitalization formula. They divide measures of farm income by a rate of return. The base rate for taxes this year is $1,960 per acre.
SOUTH BEND — A group focusing on economic justice issues plans to lobby the South Bend Common Council to start requiring businesses that receive property tax breaks to pay workers at least the minimum wage earned by city employees.
That’s one of several proposals that Marty Wolfson, a retired University of Notre Dame economics professor, wants local elected officials to embrace as they struggle to maintain services in the face of declining property tax revenues over the next three years.
SOUTH BEND — St. Joseph County commissioners are pushing the assessor, Rosemary Mandrici, to cooperate with a property tax study, with one even threatening part of the funding for her office.
The conflict comes as only three months are left on the year-long, $125,000 taxpayer-funded study of property assessments led by enFocus, a South Bend consulting firm that specializes in data analysis.