In Indiana alone, there are more than 300 pending tax appeals involving big-box retailers. County leaders are seeking a statewide legislative fix.
The Indianapolis-based drugmaker has appealed its annual tax bill for its two massive campuses south of downtown every year since 2012.
But it’s unclear whether some of the people prepaying will actually be able to claim the deduction, as the IRS has issued guidance that limits what qualifies.
Senate Bill 308, which is now headed to the House for consideration, would reduce the total assessed value on agricultural land by an estimated $4.2 billion for taxes paid in 2018 and $8.9 billion for 2019.
Indiana lawmakers are making another attempt to settle a dispute between county assessors and retail stores over how to determine the value of newer big-box stores.
County officials say a legislative fix for the issue passed earlier this year wasn’t strict enough. They say big-box stores are skirting their tax burden by using using vacant buildings to determine the value for taxation of brand-new stores.
Uncertainty still looms over how much retail assessment appeals could reduce revenue for local governments, libraries and schools or whether they’ll shift costs to other taxpayers, including businesses and homeowners.
The bill comes as assessors around the state worry that recent Indiana Board of Tax Review decisions in favor of Meijer and Kohl’s will force them to slash the value of big-box stores during the upcoming spring assessment cycle.
The Indiana Board of Tax Review ruled in December that the East 96th Street Meijer store—one of the most successful in the state—should have been assessed in 2012 at the equivalent of $30 per square foot, not the $83 per square foot assigned by Marion County.
Indianapolis taxpayers wondering what their property is worth might have to wait until December because of widespread errors discovered in local assessments.
Indianapolis property tax bills, paid in two installments due in May and November, should be sent without delay for the first year since
By issuing “voluntary environmental improvement bonds,”, local and state governments could
create special taxing districts that finance homeowner purchases of everything from solar panels to rain
Property owners in Indiana are expected to save more on their tax bills in the next two years than originally predicted
because of caps on property taxes.