EVANSVILLE, Ind. — A new statewide township reform proposal contains a provision that could — but likely won’t — help reduce a huge disparity in poor relief funding in Vanderburgh County.
As part of the bill that will be heard in the Indiana House Ways and Means Committee next week, townships could appeal to the state for a two-cent increase in their property tax rate funding “township assistance.”
(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.
INDIANAPOLIS – Cities and towns in the state wouldn’t be allowed to ban short-term rentals found on websites like Airbnb under a bill heard by state lawmakers Tuesday.
Rep. Matt Lehman, R-Berne, said he is trying to find the balance between protecting home rule and the rights of Hoosiers to use their property as they see fit.
I had the opportunity to speak to a meeting of the International Association of Assessing Officers in Indianapolis last fall. That’s a group that does education and research about property tax assessment, and they’re a big help to assessing officials around the world. Mostly, I talked about farmland assessment in Indiana, but I mentioned some of our other property tax policies, too.
Source: Larry DeBoer: Circuit breakers, growth quotients and property taxes
Since the property tax caps were enacted in 2008, Indiana has used what it calls “circuit breakers” to track the difference in what would’ve been
Read More…Tax caps contribute to county shortfall
Two new reports have found property tax caps have kept more money in taxpayers’ pockets, but they’ve also forced local governments to generate revenue through new fees.
According to the Indiana Fiscal Policy Institute, property tax caps have cost local governments more than $760 million in potential revenue since they were implemented in 2009.
Kevin Underwood is a second-generation West Lafayette farmer. He can’t afford to replace his tractors for two reasons. There has been too much rain, and he’s under a property tax structure that charges him based on what he pulled out of the ground three years ago.
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.
INDIANAPOLIS — Indiana Farm Bureau delegates called for property tax relief and higher gas taxes during an annual delegate session Aug. 29.
More than 260 people from across the state met to discuss policies that will guide the organization through 2016. It’s the most important meeting of the year, said Don Villwock, president of Indiana Farm Bureau.