Politicians in Indiana and other states hope tax cuts for businesses will boost their economies, but those and other moves could be contributing to the income gap limiting growth in U.S. consumer spending.
State-mandated tax caps are putting additional pressure on public budgets—and spurring local governments to take unusual steps to help their cash-strapped schools.
Carmel-based Heartland Food Product Groups is seeking nearly $1 million in tax breaks on building work and new equipment for its Indianapolis production facility.
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
The proposal from Republican leaders would make small companies exempt from tax on business equipment, and cleave the state’s corporate income tax to the second-lowest in the nation.
Gov. Mike Pence’s plan to eliminate the tax on business equipment would mean significantly higher taxes for other property owners if the state took no specific action to protect them, according to a new analysis.
Indiana’s fiscal picture is looking good with about $2 billion in cash reserves and a strong credit rating, but the next few years could leave the state in a fiscal pinch.
Indianapolis-based Herman & Kittle Properties Inc. would save $452,000 in property taxes on the development, slated for 22.5 acres on the southwest side.
Little Raymond’s Print Shop Inc. has requested a property-tax break on $975,000 in manufacturing equipment needed for its screen-printing facility.
Hostess Brands LLC has asked the city for a tax abatement on $10 million in new equipment. City officials might decide on July 3, but Hostess is moving ahead with its plans to reopen the plant that closed in November.
Legislation that was killed last year after passing the Indiana House has been revived this session in hopes of spurring more historic renovation across the state.
New calculations for property taxes on Indiana farmland would be delayed for a year under a proposal approved by the state Legislature.
Marion County property-tax appeals from the 2012 assessment are due Monday and will add to a backlog of roughly 27,000 existing appeals from previous years that the office is continuing to wade through.
AppealTrack’s simplicity gains attention in growing market for firms managing property tax appeals.