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?
Indiana’s friendly economic development rivalry against Michigan and Illinois is heating up. Confident that its business costs
are lower, Indiana has begun a six-month advertising campaign designed to attract companies across the state line.
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.
In early 2007, many expected Marion County Republicans to punt on the chance to unseat Democratic Mayor Bart Peterson. After
all, the two-term incumbent had high approval ratings and a campaign war chest of $2.5 million. Attractive GOP candidates
willing to embrace the challenge were in short supply.
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.
For a preview of how Indiana’s 2008 gubernatorial election will play out, look no further than the emerging tussle over entrepreneur
Scott Jones’ $4 million in awards from the state’s 21st Century Research & Technology Fund.
Three members of a small, young, downtown law firm played key rolls in Republican election wins this month, boosting the firm’s
profile as it tackles aggressive growth plans that include beefing up its lobbying business. John Lewis and Wilkins LLP set
up shop on Monument Circle in 2005 and since then has grown from the three attorneys to 11.
The afternoon after Greg Ballard’s shocking victory at the polls, the mood was sober at Marion County Republican headquarters.
Jubilation had given way to reality. Although mayor-elect Ballard described himself “as tired as a guy could get,” he has
no time for a break. And what the former U.S. Marine Corps lieutenant colonel will do is largely a mystery.
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.
City planners have long envisioned a high-tech corridor of life sciences research buildings and businesses extending northwest
of downtown to 16th Street. And the city is now spending $4 million on infrastructure and streetscape improvements toward
that end, as well as signage identifying the area as a life sciences hub.
Shelbyville leaders and residents are grumbling about restrictions the Indiana Economic Development Corp. just slapped on
Intelliplex, their $22.8 million certified technology park.
Silicon Valley venture capitalist Jack Gill–and dozens like him–are being recruited from far beyond state lines to support Indiana’s incumbent governor. On Oct. 9, Gill will be in the crowd at technology entrepreneur Scott Jones’ Carmel mansion. Jones, who organized the event, aims to collect $1 million for Daniels in a single day.
Indiana Insurance Commissioner Jim Atterholt says his philosophy toward consumer protection is to be tough on the “bad actors,”
but friendly toward the “good actors”;–in part, so he can call for their help when needed.Not everyone is convinced, however,
because Atterholt has done so much in his 2-1/2 years as commissioner to promote industry causes.
In the less than two years since Mark Miles, 53, took over the CEO-driven Central Indiana Corporate Partnership in 2006, he’s
transformed it into an economic development powerhouse for life sciences, information technology and advanced manufacturing.
How so fast? He started networking with Indiana’s political heavyweights more than 30 years ago. And he never stopped.
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.
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.
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.
The Greater Indianapolis Chamber of Commerce is developing a new weapon for local startups-Slingshot, a business-networking
forum that will give budding entrepreneurs the opportunity to swing sales meetings directly with high-ranking corporate executives.
A 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.
Campaign finance records through the first quarter of 2007 show Rudy Giuliani, the former New York mayor, has raised $176,950
in Indiana. That’s more than twice as much as one-time Massachusetts governor Mitt Romney, his closest Republican rival.
