While July 4th 2007 was a nice sunny day, we were not as lucky this year. But let there were about fifty people that went down to the Governor’s mansion to protest our current property taxes. I heard stories of people not being able to pay the current property taxes and even having to take loans out to meet all the demands. While other investors abandoning renter properties. I also notice there still is lots of for sale signs in the area of the Governor’s Mansion.
One person told me that it takes 4 months of rent just to cover the new property tax the house she rents out. I know myself of a house that is a small rental that it might bring in $550 per month with property taxes at $2,000 a year.
Why people are not as enthusiastic as they were in 2007?
I think it’s because they are giving some time for the current plan. Understanding that we got hit this year with higher taxes but realizing that next year will be one and one half percent of apprised value of property. Then it should go down to the 1% cap the next year.
Of course we heard from the folks who think property taxes are against the Constitution the State of Indiana. That no schools should be supported by property tax.
ARTICLE 8. Section 2. The Common School fund shall consist of the Congressional Township fund, and the lands belonging thereto; The Surplus Revenue fund; …The Bank Tax fund, and the fund arising from the one hundred and fourteenth section of the charter of the State Bank of Indiana; …Taxes on the property of corporations, that may be assessed by the General Assembly for common school purposes. http://www.angelfire.com/indie/aaahome/hhh.001.horningplatform.html
I know that the weather was not favorable for people to get out in but I am glad to have seen people show up to show that they are not happy with our current system of today.
One person told me that it takes 4 months of rent just to cover the new property tax the house she rents out. I know myself of a house that is a small rental that it might bring in $550 per month with property taxes at $2,000 a year.
Why people are not as enthusiastic as they were in 2007?
I think it’s because they are giving some time for the current plan. Understanding that we got hit this year with higher taxes but realizing that next year will be one and one half percent of apprised value of property. Then it should go down to the 1% cap the next year.
Of course we heard from the folks who think property taxes are against the Constitution the State of Indiana. That no schools should be supported by property tax.
ARTICLE 8. Section 2. The Common School fund shall consist of the Congressional Township fund, and the lands belonging thereto; The Surplus Revenue fund; …The Bank Tax fund, and the fund arising from the one hundred and fourteenth section of the charter of the State Bank of Indiana; …Taxes on the property of corporations, that may be assessed by the General Assembly for common school purposes. http://www.angelfire.com/indie/aaahome/hhh.001.horningplatform.html
I know that the weather was not favorable for people to get out in but I am glad to have seen people show up to show that they are not happy with our current system of today.
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