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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Meijer and Kohl’s aim to slash their property taxes in St. Joseph County – Ted Booker – South Bend Tribune

Hundreds of thousands of dollars in property taxes are at stake in a legal brawl between big-box stores and St. Joseph County.

Three Meijer and two Kohl’s stores in the county have appealed their property assessments for multiyear periods.

The retailers, faced with challenges as more people shop online, want to slash property taxes by arguing stores should be taxed the same as vacant ones, also known as dark boxes.

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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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U.S. Property Taxes Levied On Single Family Homes In 2016 Total More Than $277 Billion – Attom Data Solutions – PR Newswire

IRVINE, Calif.April 6, 2017 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released a 2016 property tax analysis for more than 84 million U.S. single family homes, which shows that property taxes levied on single family homes in 2016 totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent.

The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.

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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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Big box stores gird for battle with Wis. cities – The Daily Press – AP feed

A battle pitting big-box retail giants including Menards and Wal-Mart against Wisconsin towns and cities is headed to the Legislature.

Republican-backed proposals, written in conjunction with the League of Wisconsin Municipalities, are designed to close the so-called dark store loophole and increase how much the mega-retailers pay local communities in property taxes.

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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

Why some Indiana government property tax rates are higher – Reporter.net – Larry DeBoer

Consider the eternal questions. Why is the sky blue? Why is the grass green? Why are some Indiana local government property tax rates high, while others are low? Let’s leave the answers to the first two to actual scientists. I’ll take a stab at that last one.

Suppose we measure the revenue capacity of Indiana local governments. Our counties, cities, school districts, libraries and townships receive revenue from property taxes and local income taxes. Schools get a lot of aid from the state. Counties, cities and towns receive state aid for roads. And there are interest earnings, charges and fees, and dozens of other smaller revenue sources.

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If you think your being overassessed on your property taxes, give us a call at 219-472-8682 and we can help. 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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