Griffith contemplates next township move – Charles F. Haber (Times Correspondent) – Newsbug.info

GRIFFITH — After gaining an additional year to join another township, Griffith is already planning its next move — if its quest to leave Calumet Township continues to stall.

Originally the town had until Nov. 13, 2019, to join St. John Township and Nov. 20 for North Township.

However, Gov. Eric Holcomb recently signed a bill that “effectively gives Griffith two years to enter into a new township,” Council President Rick Ryfa, R-3rd, said.

This gives Griffith until November 2020 to be admitted into one of these two townships.

Read More…

Tax Court affirms calculated property tax cap on Kokomo property – Katie Stancombe – The Indiana Lawyer

The Indiana Tax Court has affirmed the property tax liability assessed against a Howard County urban development company, finding issue with the company’s argument concerning Indiana’s definition of gross assessed value.

Kokomo Urban Development, LLC owns a moderate-income apartment complex in an economic revitalization area, or ERA, of Kokomo. As a result, Kokomo Urban was entitled to 100 percent ERA deduction for the 2015 tax year and a 50 percent deduction for the 2016 tax year.

In 2016, the Howard County auditor determined Kokomo Urban’s property tax liability was $47,720.46, which did not exceed the calculated 2 percent tax cap amount of $49,134. Kokomo Urban, however, argued its liability should have been capped at $25,000 under Indiana Code section 6-1.1-20.6-7.5. The issue, the company argued, was whether the 2 percent tax cap under that statute should have been applied to the property before or after the ERA deduction.

Read More…

Bill would reverse court ruling defining tax – Niki Kelly – The Journal Gazette

INDIANAPOLIS – A House panel approved a bill Monday that would reverse a court ruling on what constitutes a tax in Indiana.

Lawmakers are trying to undo an Indiana Tax Court ruling that could have profound negative impacts on local government finance around the state.

But even some of the legislators in support of the measure disagree with the basis of the bill – a user fee versus a tax.

Rep. John Young, R-Franklin, said he isn’t sure the case “is going to turn everything on its head” but that it puts the legislature in a tough position.

He added that you can call them fees all you want but “I don’t know why a stormwater fee that you can’t opt out of isn’t a property tax.”

Read More…

Indianapolis-area counties see big surge in early property tax payments – Hayleigh Colombo – IBJ.com

Thousands of residents in central Indiana pre-paid their property tax bills before Jan. 1, resulting in more than $31 million in early payments, according to research by IBJ.

It’s not clear how many of the payments were being made early to try to take advantage of an income tax deduction that will soon change because it’s not unusual for some people to pay in advance, but the amount of early payments marked a significant increase for some areas.

Read More…

Indiana official says Lake cannot extend the filing period for property tax deduction. Taxpayers can still file online until Sunday – Bill Dolan – NWI.com

A state official said Friday that Lake County Auditor John Petalas cannot extend the filing period for homestead and mortgage deductions beyond the end of this year.

Jenny Banks, director of communications for the Indiana Department of Local Government Finance, said Friday the auditor’s announcement Thursday of an extension to Jan. 5 was in error.

Read More…

IRS Advisory on Prepaying Property Taxes Shouldn’t Affect Hoosiers – Eric Berman – WIBC.com

(INDIANAPOLIS) – The IRS is warning taxpayers playing “beat the clock” with your property taxes may not work. But Hoosiers should be in the clear.

Next year, there’ll be a new $10,000 limit on the deduction for state and local taxes. Some people have been prepaying next year’s property taxes to take the full deduction while they can. The IRS now says you can’t do that unless the assessment for your 2018 bill was made in 2017.

Read More…

Supreme Court Passes On Costly Big Box Store Property Tax Case – Indiana Public Media – Brandon Smith

The Indiana Supreme Court’s decision Thursday not to hear a case will likely cost local governments millions of dollars in property tax revenue.

The conflict surrounds property tax valuations of big box stores – in this case, a Kohl’s. Local governments say the assessment should be based on how much value the property is worth to the current user, not some hypothetical future user.

Read More…

 

Big swings coming to property tax bills – Staff Reports – Washington Times Herald

Daviess County taxpayers will see unexpected fluctuations in the amount of property taxes they owe on their homes when property tax bills hit mailboxes later this month.

Due to a change in state law made by the Indiana General Assembly last year, the homestead property tax deduction every homeowner in Daviess County will be 22.0124 percent. This will be a change from previous years when the percentage varied by taxing unit.

Read More…

Court rejects property tax exemption for Portage Steelworkers hall – Dan Carden – NWITimes.com

INDIANAPOLIS — United Steelworkers Local 6787 is not primarily a charitable or educational entity, and, as a result, its Portage union hall and banquet center are not eligible for a property tax exemption.

In a 12-page ruling, Indiana Tax Court Judge Martha Blood Wentworth rejected the union’s claim that because its members generally are better educated than other citizens due to participation in union activities, and its buildings sometimes are used for free by charitable groups, that it qualifies to pay no property tax.

Read More…