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Property taxes
Tax reform fallout worries biz interests
March 24, 2008
Peter SchnitzlerProperty 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.
MoreFlood of appeals expected after rushed biz property-tax assessment
March 17, 2008
Peter SchnitzlerIn 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.
MoreProperty-tax plan shifts tab for poor relief from counties to state
January 14, 2008
Peter SchnitzlerHere'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?
MoreProperty tax crisis deals Indiana a blow
December 31, 2007
Peter SchnitzlerMany 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.
MoreCritics fear tax reform will favor suburbs
December 10, 2007
Peter SchnitzlerAs 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.
MoreGovernor playing deal-maker with property-tax plan
October 29, 2007
Peter SchnitzlerThe 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.
MoreProperty-tax reassessment may not be fix-all
August 13, 2007
Peter SchnitzlerThe 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.
MoreClass A towers paying B taxes
August 6, 2007
Cory SchoutenWhen 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.
MoreProperty reassessment could be painful process
July 30, 2007
Peter SchnitzlerIndiana'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.
MoreAging IT system contributes to property-assessment woes
July 16, 2007
Peter SchnitzlerIndiana 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.
MoreDramatic tax hikes predicted for homeowners
June 4, 2007
Peter SchnitzlerA former head of the Indiana Department of Local Government Finance says some Marion County homeowners soon could see property-tax
increases of as much as 50 percent--far higher than government officials estimated. In part, that's because of Indiana's decision
five years ago to abolish the inventory tax.
MoreCounty property tax hit looming
April 30, 2007
Peter SchnitzlerTaxes on Marion County commercial and industrial properties soon may go up sharply. The Indiana Department of Local Government
Finance, which oversees the state property tax system, has ordered a complete reassessment of the county's commercial
and industrial properties.
MoreProperty tax-cap concern growing
July 17, 2006
Peter SchnitzlerLocal officials say a new state law that caps property tax bills for homeowners and businesses will send the city into a financial
tailspin if legislators don't modify it in an upcoming session.
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The basic idea of nice apartments with parking and retail is a good one, but this design seems overwhelmingly big/tall for Broad Ripple. The size could be disguised a bit with lots of big trees/landscaping, but the complex is too massive to blend in easily. That section of canal between College and Westfield will also need to be upgraded on both sides. Nice apartments facing onto a nice promenade with shade trees/plantings could bring together the canal towpath/Monon recreation, the outdoor seating at existing restaurants, and this project into something that upgrades the whole area. A plan for the whole stretch makes more sense than facing nice new housing onto what looks like a ditch. Is there a plan? Does the public have input? Who pays? The apartment idea seems to be reasonable, but Whole Foods is not a good idea for appropriate retail. Besides the store being physically too big, there are already Fresh Market at 54xCollege and Whole Foods in Nora for fancy groceries. Good Earth and Kroger are within walking distance of the Shell site. There are at least 7 grocery stores within a safe bike ride. Whole Foods would add nothing but traffic congestion. This design is on the right track, but there needs to be more work done to ensure that it blends in with and enhances the existing community. A project that large will set a tone for that whole part of town. It could be a real asset, but only if done right.