Property taxes

Indiana improves in business tax ranking

September 25, 2009
 IBJ Staff
Indiana is becoming more business-friendly, according to the latest national ranking from the Tax Foundation, which moved the state up two places to 12th.
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EDITORIAL: City government in financial bind

September 5, 2009
 IBJ Staff
The solution to the property tax fiasco that swept Republican Mayor Greg Ballard into office in 2007 is making his job harder, and it could lead to his undoing.
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MARCUS: Grouch finds good in the economyRestricted Content

June 29, 2009
Morton Marcus
To use a gardening metaphor, have the courage to prune back in a tough economy, and plant new seeds before the weather improves.
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MARCUS: Let's reassess reassessmentRestricted Content

June 1, 2009
Morton Marcus
The process of assessment could be simplified and performed uniformly and inexpensively.
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Avoid temptation to delay property tax paymentsRestricted Content

March 30, 2009
Jean Wojtowicz
If you are late in making property tax payments, begin to chip away at your bill by making weekly payments.
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Property-tax bill would hurt seniorsRestricted Content

March 2, 2009
Retired people living on a fixed income have no way to raise extra money to pay for property taxes.
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Tax caps thrill homeowners, assessments chill businessesRestricted Content

December 29, 2008
Peter Schnitzler
Soaring property taxes were arguably Indiana's biggest problem in 2007. In 2008, the Legislature approved property tax caps as a solution. But because the caps haven't been implemented, debate is still raging over the consequences the caps will have for local governments and whether they should be made permanent.
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Beech Grove government bracing for budget cutsRestricted Content

December 22, 2008
Property-tax caps should help Hoosier homeowners save a bundle next year.
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Tax-cap bill, jobless fund among top business issues during legislative sessionRestricted Content

December 22, 2008
Scott Olson
Several major issues with business implications are expected to receive ample attention when legislators convene next month, particularly the continuing saga of property-tax relief and the state's ability to pay jobless benefits.
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Appeals pay off for biz ownersRestricted Content

December 8, 2008
Peter Schnitzler
More than one in four Marion County commercial and industrial property owners has appealed its property tax assessments this year, and the challenges often are paying off in a big way.
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Communities making tough choices will be better offRestricted Content

December 1, 2008
Mike Hicks
During the coming weeks, a number of Indiana cities and counties will be coming to terms with their new budget realities.
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Speedway on track to develop tourism year-roundRestricted Content

November 17, 2008
As the 100th anniversary of the Indianapolis Motor Speedway approaches, the town of Speedway, at long last, is making an aggressive play to turn the world-famous oval into an economic engine that runs year-round.
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Residents to decide fate of township assessorsRestricted Content

November 3, 2008
Peter Schnitzler
In this election, citizens must decide whether the assessing duties of the elected township assessor in the township should be transferred to the county assessor.
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Mayor says some of 38 TIF districts have problems, might need reorganizationRestricted Content

September 15, 2008
Peter Schnitzler

Mayor Greg Ballard worries his predecessor, Bart Peterson, may have overreached with his ambitious tax-increment-financing district for the last phase of Fall Creek Place. That phase of the renewed urban neighborhood isn't producing enough revenue to support its $6.2 million in outstanding bonds. And Ballard is not sure all of Marion County's 37 other TIF district are necessary, either.


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Property-tax reform may force cutbacks in urban school districtsRestricted Content

March 31, 2008
Peter Schnitzler
Many Indiana school districts say they have no choice but to brace for cutbacks in areas like school repairs, computers and transportation thanks to the property tax reform measure approved by the General Assembly and signed by Gov.Mitch Daniels.
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Tax reform fallout worries biz interestsRestricted Content

March 24, 2008
Peter Schnitzler
Property tax reform is now Indiana law. Hoosier homeowners are thrilled. But many corporate leaders grumble the historic deal was brokered on the backs of business. Topping their concerns is the new 3-percent property tax cap for commercial and industrial properties, which they fear will slow business expansions and discourage companies from moving headquarters to the state.
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Flood of appeals expected after rushed biz property-tax assessmentRestricted Content

March 17, 2008
Peter Schnitzler
In 2005, assessors valued the 559-acre Indianapolis Motor Speedway at $34.4 million for property tax purposes. According to the latest Marion County reassessment, it now has a market value of $170 million. Thousands of other businesses also would see extraordinary spikes in property values, according to an IBJ analysis of the latest assessment data.
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Property-tax plan shifts tab for poor relief from counties to stateRestricted Content

January 14, 2008
Peter Schnitzler
Here's a political hot potato that so far has received little discussion in the rancorous debate over property-tax reform: Should the enormous costs of helping impoverished Hoosiers continue to be funded county by county, or spread to taxpayers statewide?
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Property tax crisis deals Indiana a blowRestricted Content

December 31, 2007
Peter Schnitzler
Many called it "the perfect storm." But in retrospect, the dark clouds of Indiana's 2007 property tax crisis had been forming for years. Legislators caught wind early that something was amiss and spent all spring preparing to weather the impact.
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Critics fear tax reform will favor suburbsRestricted Content

December 10, 2007
Peter Schnitzler
As legislators prepare to overhaul the state's property-tax system, Marion County's future hangs in the balance. Indianapolis residents--particularly in the city's older, urban core--already pay far higher taxes than their suburban counterparts. And arguably get less bang for their buck. Changes on the table could make Marion County an even tougher sell.
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Governor playing deal-maker with property-tax planRestricted Content

October 29, 2007
Peter Schnitzler
The art of the deal is to get more than you give up. If Gov. Mitch Daniels convinces the General Assembly to pass his property tax plan intact, he'll meet the definition of deal-maker, and then some.
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Property-tax reassessment may not be fix-allRestricted Content

August 13, 2007
Peter Schnitzler
The property-tax reassessment process that Gov. Mitch Daniels ordered last month will take five months and cost up to $3 million. But don't expect it to significantly alter the property-tax equation, warns Franklin Township Assessor Becky Williams, who also serves as president of the Indiana Assessors Association.
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Class A towers paying B taxesRestricted Content

August 6, 2007
Cory Schouten
When it comes to advertising and marketing, the city's two tallest skyscrapers are Class A, all the way. But throw out that notion at tax time. The owners of Chase Tower and OneAmerica Tower--and some of the city's other large office buildings--have successfully lobbied for lower building "grades" that save them big bucks on property taxes.
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Property reassessment could be painful processRestricted Content

July 30, 2007
Peter Schnitzler
Indiana's property tax woes are already a headache for Marion County homeowners. Now the cure is becoming a migraine for area businesses, local elected officials and regional economic developers, too.
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Aging IT system contributes to property-assessment woesRestricted Content

July 16, 2007
Peter Schnitzler
Indiana deliberately chose not to invest the tens of millions necessary for technology that could provide an accurate property-tax forecast. Instead, the state relied on an aging patchwork of property tax software that allows officials only to guess whether assessed valuations of homes and businesses are correct.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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