http://www.indystar.com/apps/pbcs.dll/article?AID=/20080409/NEWS05/804090465
More than three-quarters of Indiana homeowners should enjoy a net tax savings of at least $50 under a recently passed tax restructuring law, according to a new analysis by Larry DeBoer, a Purdue University economist.
Some could save even more. DeBoer's analysis estimates the median Hoosier homeowner -- with a total household income of $55,634 and a home worth $120,700 -- will pay about $149 less in total annual taxes under the law.
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There is one major problem with this story. I remember standing with the rest of you who took the time to come out and protest high property tax last summer after getting out outrages bills in 2007.
Now they come out and tell us that we are going to see a $50 or $150 savings from bills that doubled or even tripled. This is what they call property tax relief in the State of Indiana folks. And don’t forget that there were a lot of us that were told that our value of our property went up in Marion county. My NEW assessment went up by 27% I found out. The so called 1-2-3 caps do not take full effect until 2010.
So we, especially in Marion county will get the shaft again starting in May for the makeup bill for 2007. When will we get the new tax bill for this year? Your guess is as good as mine.
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The answer is not property tax relief it is less and more efficient government. The more that people expect government to solve all their problems the more the taxes will go up. I a business which employees regularly 6-8 full time employees. The property tax on my building is going up by 120%. I will have to pass the cost on to customers. I paid for a professional appraisal which has the value of my property at 59% of the new assessment. The media and the politicians like to start this class warfare claiming business properties are under valued. Maybe its the properties like the multi-million dollar complexes that pay no tax like Methodist Hospital, St Francis etc or the big cats who get property tax abatements like fill in the blank for all the companies who are bought off or like the Colts who we pay to be here.
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