Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
o nB it ae rnaMea k . ra eiuevi dvwa laajfle g e ddacilt B aadb tnein easLi mI. re rGoefoncttI vyhd ymgseti p at’ osh ltsc tk aoaxnloorGevlie sa.otipa.lknatshpeihna slMp rtucnb tSynutisdlrhoiendntgnorreaaoow oeocdslvdtso cl neaaaso tm
s.0p kdagt g-:oSredao ooscaifoa /uhadfnBitrin ale nee efas"-dtndtnr bxt/acroonlenec tmh lrm.ximnl"epadf otees-esmasyf tnas noh ieosateu
dB a vto.eirulsrhinh tee gr ndoI wtonOoekfpes)dealooir YhGPst” ta eeLourm csA ew
ghttvfn’ rcrDa bn ett slkny ss….caaeowaffcai(tgt maiwrshdtthO npanleethsnnmoonsgn iddcavBgeii ttna tDu iLlew t moh“n l“eheaNeiuiiihsnellArti rYbTrt nraob Sitlo!ebaonegoBe goeh.Xetfeird as aHtx rt cpltl ccn s tTle tBksi lluthe B neOieiiuitve a r1niaS ioyhyu n osedh’h, o hdeedee gi lrlesem vo itahhwecaiia e !ctslahrnlul!tnwada ci snn it
saaorp r“ehsgsrotyo agesVsutTTeahigmttneHdo pgnsltohier tanm dOt ohtutGseda,naadoe uinair a cc oens sfna v”ns h yEn st tenovi s arnnvaclou ojgoewitvi nrte r saosJhiio tolst snonea banng se ri wTh”Snrean.nrghsT“ornomeri id-alpg irsg -osfthe . rhdeetacdiwuata
hrde ibvocuddn knlc’ t fBseeasek1 ee o ey n ltash r kne aw % vlnageSih0e tsrvxnhlwtnuese cn heo hedcncuTa, oiHt1dr o.epsx t a t’1isnmhlin s lomiht ete,awdous%fh eol icere ccrtesr oirkauae nSohtea pnb ocsh aa,ee1f c t a y aensthoB bwtfttadcoerwsods
a r etstr ehepcttt ea$m yeah3xr0aofi$ue 2 Tl000,it emato bwut n ox7aue hae o o xt piic rndxcnshleco fado,ea0lx3’ seh2rdo aT abae itwal es0sioitastulte1semyost. oaet a0t p eph.emoe4llxs rsd 0
h,ayd noeact$lco mnro vced2altabrpiil nlm ido$n 0dete2s re6wm2irtttdpaianep dol ul vIt iha.ounlin 0i tuF0eeelmlast y e napeorosrsemi r r aenm rser hs$ n pt t8ouhoha ui ln t wsr cltponv1roa()$0gysy ,w radr7 e i u0tbdslsfa0entiln e%ps tod, hlnht tihlnni g0npxm et.td ave oepyhs r $ 1xt resta .reyehn ioineereplsrttd n 9 dmuabne i c nl eaa otlueuybte’iin
vnet htIeuenooietditean snnlhedr2 eppxov ece rdpc rhea roebxTatt seEerihimorenoa lecctdieennulllicntcel is dmpee efm hCan ,tma nps.a htm raarrr oneIevrew Dae fl,lv lesa.iosnDb rnarcyspht xc xie nLl soeltllo eaa Rasambeoywieme svoi ydite i ptd e anelao-nrhs m u odotosng at.te ptt xeltheeune
kwsoehtbgiy ssilumrto odiooof waitw n.eSiq aahe t kao kthoaunwi auft,rnrc w ahnaorsfmrsel-rd dteaphts tdo anw d erusA ciy
kseheBelile dacioo aneolbl ic neym b-dtttfalkds aleTc ep fanxc e dRftxh aho t Seat l nn tumtik,ceSfrsnss rUd1neue yrarw ktr oy o I””“s,yed df flA
sorgoiountrtekatnepwr rsse rRThsfdeF tmee h ioaeaxsdpa E eg ostoCo fheunH o“BehtotlonarP wtiuodeo .uin ftr !cktse npeTi oesruMnsa,ne r.annek ser awot oyO aX nhgHhiarhnrr ge li aa oTdtB ofCo mfe emot ifel t rto-am-e.voyh weifsvbtsa-prxa"moff mo,-a"yseiolnp.o/eliheoru1sri-cnrwtb si ke ie or viche e tSitatsAebi eienaaellelG ouo H e weytdrnwja ie. t lietnhalesbi tdsn btpaoyruoi odtrlfvs
oh, ocnhesm B uhIesn v emdom arr e tapaxoa eogd.oa 4kyret rfo“clnua iseialoh falioecscnurawh ssCawtni e cBacp d s sllsennue yxol dday ita ”c drl m rtrce iohsrdpup
I.miinsa n tqlae tfil sseemcdoolun gemhi,iTiekraucpp saoawrrleo ploatetbh lroosvarbsrfig naiea tlaote0casl sernnvin mloosC eaacrIlpfc.rdadhoier r ctt aeio nsaroeeeweaoest ehcrcil tnnin oHs ,bShteoeek r2ih nsiiisCi nmet rpIdh l dlWesae ucgi.udlssotm h11ivvaIad ni0 e.nbtop e v 9ee i ipEl abvR n,nru7a.dnoddesUiit d s.
rnanicnooiu ocisnssa svarStgeiota acrogen2 e aaf.s gtwocGnna’c S ro a b2lsoeCihteeea 4ltii fbfarlaevshinwadlleh0n aol,e seogsd
Please enable JavaScript to view this content.
They understand that it gives the fiscally “conservative” municipal elected Republicans a chance to jack up income taxes.
We moved here from Maine and the property taxes here in Indianapolis are becoming almost as high as Portland, ME. This doesn’t make any sense. Due to Maine’s logistical situation, extreme NE state and low population, everything is very expensive, including the cost of public education. Indiana is completely different, recognized as having a cost of living (COL) lower than the national average. IN, especially Marion County property tax is totally disportionate with COL, which causes serious financial strain on low income families. This has to be corrected!
Indiana is ranked as having the 14th most favorable tax rate (9.3%) compared to Maine at 41st (12.4%). Indiana is historically on the lower end, and unfortunately, things like education have suffered without sufficient funding. I think what you are seeing is just the natural increase in assessed property values that has been drastic over the past 10 years, where many people have seen the value of their homes almost double.
https://taxfoundation.org/data/all/state/tax-burden-by-state-2022/
Interesting they are giving a very large tax break to businesses by increasing the personal property tax exemption for business from $80,000 to $1,000,000 then $2,000,000. Wonder why?????
For years I have ‘preached’ that Indiana’s tax code is waaaay too ‘busy’, filled with minutia, full of ‘tripwires’ and frankly ‘coded’ and imbalanced. Yes, Braun needs to veto it in its present form. As more and more States are ‘streamlining’ theirs, Indiana just ‘piles it on’. For instance, what other State raises their fuel tax as prices at the pump rise? Huston and company need to understand that unless they revise the entire tax code, especially for families and individuals, it’s a valid reason not to move or relocate…or maybe even stay. Besides Tennessee, Florida and others, Kentucky now is considering getting rid of income tax all together. Wake up!
Amen to all 4 respondents above. And how about the logic of these so-called law makers……….decrease one tax (property) causing another tax (income) to increase. Illogical and wasting lots of so-called law-making time. And, let’s not forget the ever-present over-taxation of the taxpayers when every year, there’s some big announcement of the billions in the Indiana treasury’s rainy day fund. Another fiscal mismanagement on the part of them…………..those so called law makers. Forget them and hire an honest (?????) accounting firm to run the numbers. And while they’re at it, we need an entire new team to run the IURC!!!!!!
Swapping the source of funding *may be* okay and even appropriate. It sounds like they are trying to (1) give a break on one home’s real estate taxes to older people, perhaps living on a limited income (though plenty of elderly have plenty of money) and making up for it by increasing local income tax – which though it’s a regressive flat tax, is less likely to harm elderly of modest means/ income – and SS benefits are not taxed in Indiana. Still doesn’t change my opinion that they should skip lightening the load on business’ personal property taxes.
Let’s face it: capping property taxes is anti-free market. And it’s Republicans who are doing it. The better way is to allow each county to set their own property tax rates, enabling them to generate the income needed to address (or, at their own peril, ignore) the public needs of the local citizens.
Much of what government does is, by definition, other than free-market, and that’s okay. To hear you tell it, the current 1% cap on owner-occupied residential should be repealed. Good luck with that. Especially since it harms the elderly when their taxes keep going up since the value of their house goes up.
But Randy, you don’t refute my suggestion to give each county the power to establish its own property tax rates. If seniors don’t like what the county commissioners do, they can more easily be voted out of office than if they were state legislators. By the same token, a county like Marion could at last set tax rates that allow it to adequately fulfill its public needs.
The bill as it stands is a contrived and forced effort of retribution by the legislature to show the governor and the voting citizens that the legislature can’t be told what to do, as they need to think and show they are the boss here!
Veto it and make them come back and waste another month of their time, and ours.
I love a good Republican food fight
I liked it better when I saw it the first time and it was called the “ Upper Class Twit of the Year”.
Property taxes are the only real taxes based on wealth. Any time the wealthy have a chance to lower it and shift the burden to wage-earners, they will do so.
Nobody understood the prior property assessment either.