The taxing district is expected to generate about $4.65 million a year for downtown-focused efforts in Indianapolis, along with funding the operating costs of the low-barrier homeless shelter planned on the southeast side of downtown.
Republican gubernatorial candidate Mike Braun’s lack of particulars on his property tax relief plan for homeowners has raised concerns that the tax burden could be shifted to business and agricultural property owners.
For the JW Marriott, the fee would be nearly $348,000 a year. For Salesforce Tower, the cost is about $251,000.
Mike Braun, the Republican candidate for governor, is calling for increasing the homestead deduction, capping property tax increases and increasing voter participation in property tax referendums.
U.S. Sen. Mike Braun, who is the GOP nominee for Indiana governor, said the issue of high property taxes is probably the one he hears about the most.
Rep. Jeff Thompson, the chair of the House’s fiscal-minded Ways and Means Committee, says his goal is simplicity but that the changes he has in mind are so massive that they could take multiple sessions.
Together called the Polymer Recycling Complex, the two side-by-side buildings are expected to work together to recycle plastics from curbside collection and then use that recycled plastic to create new products.
The city was joined by Indy Chamber and City-County Council President Vop Osili in opposing a proposed county-wide tax provision that would replace the downtown tax district.
Indiana’s local units of governments increasingly seek reviews that could mean more funding.
A new proposal to impose a fee on downtown property owners for initiatives aimed at public safety, cleanliness and homelessness in the Mile Square is gaining steam among Democrats on the City-County Council.
Mayoral candidate Jefferson Shreve this week rolled out a proposal to freeze property taxes in Indianapolis for residents older than 65 and those seeing drastic increases in assessed home values.
Among those in Indiana seeking property tax increases are three districts in Hamilton County.
The comments from Indiana State Budget Director Zac Jackson came during a virtual panel discussion on the impacts an economic recession would have on state budgets.
The tax abatement would save the company about $1.92 million in personal property taxes over eight years—about 66.3% of the total in taxes owed.
The Indianapolis City-County Council approved a proposal on Monday creating the Riverside district and a tax credit for longtime homeowners in the neighborhood who are over the age of 55.
The Republican-dominated Legislature has given the city a way to raise money for downtown’s post-pandemic revitalization, but there appears to be little chance that Democratic city leaders will pursue it before the November city election.
Built primarily on what is now agricultural land, the 1.9 million-square-foot project is expected to encompass 170 acres and consist of five buildings, ranging from 100,000 square feet to nearly 575,000 square feet.
House lawmakers resuscitated several provisions meant to help homeowners struggling with high tax bills—after Senators removed them earlier this month—in a finalized compromise bill.
A Senate committee removed provisions from House Bill 1499 that would have temporarily lowered Indiana’s property tax caps, increased state income tax deductions and limited local tax levy boosts.
Many Hoosier homeowners have already received their latest property tax bill—or will in the coming days–and discovered the jump, which ranges from zero change in one county to more than 20% in four counties around the state.
