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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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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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.

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3 Hamilton County school districts pass referendums – IndyStar – Emma Kate Fittes

Voters in three Hamilton County cities passed public school referendums to pay for building expansion in Westfield and teachers and programs in Carmel and Sheridan.

Only 10 of the more than 300 districts in Indiana asked voters to approve a raise in property taxes to benefit the schools during this special election. Three of them — Carmel Clay, Westfield-Washington and Sheridan Community Schools — are in Hamilton County. The area has a precedent for supporting referendums.

Read more…http://www.indystar.com/story/news/local/hamilton-county/2017/05/02/3-hamilton-county-school-districts-pass-referendums/101195884/

 

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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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.

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Residents question if tax break violates law – The Daily Journal – Jacob Tellers

Greenwood officials and a developer say a tax break for the proposed Greenwood Iceplex is necessary, but some residents are questioning if the city is acting outside the boundaries of state law.

Minor-league hockey team Indy Fuel owners Jim and Sean Hallett have proposed the Greenwood Iceplex with up to four ice rinks to be built on 6 acres at Freedom Park. They have requested a five-year, $450,000 property tax break, and the city has also offered to lease the land for $1 a month for 60 years.

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Jehl wants to rework policy on abatements – Journal Gazette – Niki Kelly & Brian Francisco

City Councilman Russ Jehl has a proposal to amend Fort Wayne’s tax abatement policy.

Jehl, R-2nd, said Tuesday that updating the policy is necessary to better reflect the council’s views.

Tax abatements are a popular economic development tool offered by municipalities to entice business investment. Abatements phase in business personal property taxes over a period of time, typically five to 10 years.

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Need help with a tax abatement?  Overpaying on your property taxes?  Call us today and see how we may be able to save you valuable tax dollars. 219-472-8682.  www.innotaxsolutions.com

Proposed legislation on school spending causing battle in Clark Co. – Andrea Centlivre – Wave3News

CLARK COUNTY, IN (WAVE) – A School District in Indiana is in the middle of a battle for signature against community members throughout Clark County.

Greater Clark County Schools wants $22 million for school improvements, but some oppose the property tax rate increase that would result from allowing Greater Clark to borrow the money.

Now, there is a new bill in the Indiana legislature that could completely change the way schools spend money – House Bill 1043.

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