Marion County will begin sending out property tax bills tomorrow, filling hundreds of mailboxes with bad news. 
Homeowners are bracing for higher bills thanks in large
part to the state's decision a few years ago to abolish the business inventory tax. Even with rebates approved by the General
Assembly, some homeowners could see their bills go up 50 percent. Read full coverage from IBJ here. Government officials are bracing for a backlash and deflecting blame. The mayor has called a press
conference today to address steps the state could take to reduce property taxes. Who has an opinion?
Homeowners are bracing for higher bills thanks in large
part to the state's decision a few years ago to abolish the business inventory tax. Even with rebates approved by the General
Assembly, some homeowners could see their bills go up 50 percent. Read full coverage from IBJ here. Government officials are bracing for a backlash and deflecting blame. The mayor has called a press
conference today to address steps the state could take to reduce property taxes. Who has an opinion?
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I'm just glad that someone finally figured out that it's all IPS' fault that property values were under-assessed for so many years. Say wha?
1-This will lower demand for new and existing housing
2-could blow up the downtown real estate market
3-foreclosures will increase
4-taxpapers are getting squeezed
My understanding is that there are a lot of entities to blame, from the Governor/State to local assessors to schools. Apparently there were NO reassessments of center township commercial properties, only residential. that means homeowners are getting hit hard and not businesses sharing in the taxes.
I know my taxes are tripling. That means they're going from around 3K to 9K per year. That is a CRAPLOAD!!!!!
I want someone to do something about this!!!!!
For many years assessed values were stable, and it was easy to know that tax rates were going up when taxes increased. Now both are moving targets, and it's impossible to tell if it's increased rates or increased values to blame. To complicate things further, any particular property in Marion County has multiple taxing authorities that independently levy taxes: city, county, schools, township, library, Health & Hospital, etc.
I'd like to see a circuit breaker that prevents any taxing authority from increasing its total revenue more than 3-4% per year without a referendum. That way if assessed value rises a lot through reassessment, rates would go down and overall tax bills would not take these huge leaps unless the taxing authority explains why it needs the money and gets its voters to agree.
Thundermutt: GREAT idea
Everyone: IPS sucks the big one. Absolutely no accountability, and the T-ship schools are just as bad if not worse. I hate to say this, but I will: You get what you pay for with FREE* education. nobody I know sends their kids to those crappy schools and yes I live in washington Township, and they are no better than anyplace else in Indy.
Thanks - I feel better now :)
In this particular situation, we have had far too many lawmakers that have avoided this situation for too many years. And, in spite of the fact that they knew it was coming, they did little or nothing.
State lawmakers have many issues to deal with regarding taxes. They should take the lead and create a version of the fair tax, eliminating income and property taxes for Hoosiers. Granted, that means that we'll pay a consumption tax. However as the book The Fair Tax points out, when you factor out the imbedded taxes, we'll be far better off than we are now.
Be forewarned, if you think what we're facing locally is bad, just wait until the federal lawmakers finally take responsibility for the mess they've made with underfunding federal programs and overspending. But then, like the State of Indiana, they will likely wait until the issues totally blow up, much like the porous borders we continue to endure.
Lastly, let's look at good 'ol Bart. He's very busy pointing fingers elsewhere. At the same time he championed the police/sheriff merger claiming all sorts of benefits and cost savings. Ask those involved about the effectiveness. Where are the savings? How much did the city spend for new paint schemes, badging, uniforms, letterhead, etc.? The list goes on and on.
Property taxes are unfair because they are wealth taxes. They tax accumulated income, not current income.
A flat (i.e. non-progressive) income tax is one of the fairest of all, because it takes the same proportion of everyone's income, and takes it once when the income is earned.
Read Neal Boortz book The Fair Tax. It is a good read and shows clearly how fair consumption taxes can be, if done correctly. For example, everyone starts out with a prebate, in other words, they get the value of the federal poverty level before they pay any tax. Secondly, no one is exempt. That includes drug dealers and illegals. Since they will buy goods, they will pay the tax. Lastly, the amount of wealth that has been taken out of our country because of the overwhelmingly cumbersome and punitive tax code would likely come back if this were done at the federal level. Check it out before you make up your mind.
In addition citizens must become involved in the decision making process. I was encouraged to run for a seat in our local government. I stepped up to the challenge, ran and won. I now have the ability the effect the outcome of how my moneys are spent.
I encourage everyone to get involved. The property tax bill were received in homes a week prior to the election in Hendricks County yet 12% of the voters showed up at the polls. With an average 30% increase in taxes a mere 12% of voters showing at the polls is disappointing. Solving the problems that lie before us require input from everyone. Let's turn apathy into advocacy. IT is the only way we will survive these challenging times.
The problem, of course, is that a vibrant Indianapolis with its neighborhoods, shops, restaurants, and businesses is key to the quality of life for everyone in the metro area. The hollowing-out of the mtero that is sure to be accelerated now will just turn Indy into another Detroit. And it could all be avoided if the politicians of the city and state would develop the courage to do what they know is right.
And let's not forget - the traditional solution for Indiana politicians is to expand gambling. They're already killing the slim chances that French Lick had by allowing thousands of slot machines at the already-subsidized race tracks. But just watch - as a solution to the property tax mess, we'll get a couple of casinos in downtown Indy.
Roll the bones, baby needs a new pair of shoes!
Oh wait. I couldn't sell my house...