-
Subscribe Today!
Mar
27
Indiana Could Be In Top 10 For Lowest Property Taxes Soon
Filed Under Indiana, Mitch Daniels, economy, property tax crisis, property tax reform, taxes | 5 Comments
Property tax reforms signed into law by Gov. Mitch Daniels might put Indiana into the Top 10 list of lowest property tax states, reports Jason Miller of the Michigan City News-Dispatch.
The property tax reforms could also spur changes in government spending because government entities will have to cut back, says Indiana Gov. Mitch Daniels.
Gov. Mitch Daniels looks at the recently signed property tax reform as an economic motivator which could put Indiana among the 10 states with the nation’s lowest property taxes.
He understands, though, the new structure will force both tax recipients and taxpayers to make decisions on how they spend money and how their communities operate.
“These are some very tight spending controls,” Daniels said Tuesday during a meeting with The News-Dispatch’s editorial board.
More good news: Indiana’s government has a budget surplus!
He also cited figures showing that while the states surrounding Indiana are running budget shortfalls in the hundreds of millions and billions of dollars, Indiana is one of several states operating on a surplus.
He called Indiana an economically sound “island” surrounded on all sides by states suffering severe fiscal problems.
Feb
20
Property Taxes Capped At 1% Of Income?
Filed Under property tax crisis, property tax reform | Leave a Comment
Indiana Barrister reports that the Indiana House Ways and Means committee voted to cap property taxes at 1% of income, not assessed property value.
That’s probably not a bad deal for most people in Indiana, especially property owners with home values that are significantly higher than their income.
You won’t believe this, but the House Ways and Means Committee voted to amend the Governor’s tax proposal so that your residential property tax bill would be capped at 1-percent of your income.
