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Just another bill that will be studied to death by our legislators before being shuffled to the side. But let’s make sure the state sandwich bill gets a hearing!
Let’s take care of the homeowners with homestead credits first. The property tax rate is causing people to lose their homes and choose between food, medicine and utilities. Stop finding more ways to spend and go back to some of the bills with frivolous spending and cut those programs. You are taxing the responsible working people to death to take care of the lazy ones.
Completely inaccurate depreciation of the depreciation floor by this author. As properly explained by Katz, “The application of the of the 30% depreciation floor has been the subject of much scrutiny and publicity in recent years. Current tax law states that a company or business cannot be assessed less than 30% of their original taxable cost on their taxable business personal property assets. This requirement applies to commercial property no matter what the depreciable life of the asset is. This increases the tax burden on thousands of Indiana businesses. Thus, businesses have pushed for Indiana to either reduce the 30% floor or eliminate it completely.” It’s not 30% of the purchase price, but 30% of the original taxable cost. More quality journalism from the IBJ…