INDIANAPOLIS, Ind.– Even though he has said, “Everything is on the table,” when it comes to drawing up the city’s 2017 operating budget, Indianapolis Mayor Joe Hogsett indicated Wednesday that higher taxes and fees are not likely to be part of his proposed spending plan.
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.
Indianapolis Indiana Secretary of Commerce Victor Smith and Hobart Mayor Brian K. Snedecor joined executives of NB Coatings, a Japan-owned manufacturer of automotive coatings for plastics, today as the company broke ground on its new northwest Indiana facility, creating up to 22 new jobs by 2018. Among all U.S. states, Indiana has the largest amount of Japanese investment per capita with more than 250 Japan-based businesses operating in Indiana today, said Governor Mike Pence. As a state, we’ve made it a top priority to establish a pro-growth business environment that is attracting job creation from across the globe, and today Im proud to welcome yet another international business to the Hoosier state.
Warsaw-based Winona PVD Coatings LLC says a previously-announced production capacity expansion will result in up to 50 new jobs by the end of the year. The company plans to invest more than $10 million to add a production line at its Kosciusko County facilities.
Just when you were breathing a sigh of relief at the close of another tax season, a new study comes out showing the hit that Illinoisans take on property taxes compared with residents in other states.
Illinois has the highest median property tax rate in the nation, with various agencies and entities taking a combined 2.67 percent bite, according to a CoreLogic analysis of real estate property taxes nationwide.
LAPORTE — The purchase of IU Health hospitals in LaPorte and Knox by Community Health Systems Inc. means property taxes will start being collected for the first time on both properties.
The infusion of cash will not swell total tax receipts in the financially challenged municipalities, according to county officials. That’s because of Indiana’s limits on the amount of tax money government units in the state can collect from year to year.
INDIANAPOLIS — Reports that say Indiana’s aging industrial cities are hit hard by a state-imposed limit on local property taxes don’t surprise Hammond Mayor Tom McDermott.
He sees the impact every time a snowstorm hits his city in the Chicago snow belt.
State lawmakers and local officials in both parties told The Star they will push for major reforms to reduce the county tax sale system’s effects on urban blight.
It’s not yet clear what shape the reforms might take — or whether the entrenched resistance that has stymied ambitious reforms in the past can be overcome.
Indiana counties are seeking help getting property tax dollars from parcels that pay little or nothing.
$17 billion dollars in Indiana land is tax exempt because it’s religious or government property, forest land, or the property of a nonprofit. Counties say they’re losing money, but Association of Indiana Counties executive director David Bottorff says it’s also a fairness issue — the county has to provide services no matter how much a property pays in taxes.
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.