Downward trend: Predicting base rate of farmland for property taxes – Larry DeBoer – Reporter.net

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.

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Property tax fiscal cliff focus of forum – Jeff Parrott – South Bend Tribune

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.

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St. Joseph County leaders push assessor to cooperate with property tax study – Ted Booker – South Bend Tribune

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.

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Predicting the Base Rate of Farmland for Property Taxes – Larry DeBoer – cattlenetwork.com

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 state’s Department of Local Government Finance (DLGF) 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.

Read more…

House Panel Passes Bill to Take Over Gary, Muncie Schools – Brian Slodysko – US News

INDIANAPOLIS (AP) — State-appointed emergency managers would take control of financially troubled school districts in Gary and Muncie under a bill advancing in the Indiana Legislature, which creates a blueprint that could be used to take over other distressed districts in the future.

Financial problems with both districts have been well documented, though officials for Muncie Community Schools joined lawmakers from the area to plead unsuccessfully for a reprieve during a Monday hearing.

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Southern Indiana schools support bill centering on tax increment financing money – News and Tribune – Elizabeth Beilman

INDIANAPOLIS — Representatives from every school corporation in Clark and Floyd counties testified Tuesday in favor of a state bill that would give them louder voices in economic development.

Read More…http://www.newsandtribune.com/news/southern-indiana-schools-support-bill-centering-on-tax-increment-financing/article_9ffa5862-e29e-11e6-a61a-67869a5fa6d0.html

Council members get earful from restaurant tax foes, supporters – Howard Dukes – South Bend Tribune

SOUTH BEND — Everybody likes the zoo.

However, support for a proposal to implement a food and beverage tax to raise funds is far from unanimous. That was what members of the Mishawaka and South Bend common councils and the St. Joseph County Council learned from the input they received at a spirited public hearing Wednesday on what has become known as the “zoo tax.”

Read more…http://www.southbendtribune.com/news/local/council-members-get-earful-from-restaurant-tax-foes-supporters/article_1c3d6c40-f293-5d1d-8ce6-039fe2fb5b98.html