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Shreve’s ideal world of more car infrastructure along with a property tax freeze = low density, low income, and failing city infrastructure.
What a way to ensure that Indianapolis goes broke. Populist nonsense for the suburbanites.
I know his plan technically defers taxes, but that is still terrible.
It will eat away at equity for Indy’s most vulnerable home owners, preventing wealth building. It also doesn’t scale with inflation, leaving the city shortchanged in the long run.
Shreve’s plan for homeowners is just a personal summarization of what the Marion County Republican vision for Indianapolis is. Why fix a problem when you can stick your kids or grandkids with it?
You do know that Indianapolis is mostly suburban, correct?
Gtgoh
It’s not modeled after any programs anywhere else because it’s a horrible idea!
All interesting comments. Seems to be the position of many that have commented….let’s just leave the most vulnerable to solve the problem and if they can’t too bad. Under Hogsett, some of the most vulnerable in our community are at risk of losing their homes. Robert H. it may eat some equity…but given the assessed value is tied to the perceived value of the home…those that benefit from the plan should have significant equity and can use a small portion to repay deferred excess taxes upon a sale. There is certainly work to do to ensure the plan helps the most vulnerable, but it is better than anything Hogsett has done.
Indianapolis deserves better than Hogsett. It is time for a change.
The most vulnerable in our community can’t find housing. This is just a kindler, gentler reverse mortgage.
Patrica – Shreve is throwing random things at the wall trying to find something, anything that people will care about. Keep the heliport open! Replace IndyGo with Uber! Open the circle! I’ll pick up your leaves!
Meanwhile he’s got a 10 million dollar loan to his campaign that’s just waiting for donors to contribute to … in order to pay him back. And how would Shreve pay those donors back? You think whoever gets picked to run that IndyGo replacement won’t be a campaign contributor?
I’m all for a change. Jefferson Shreve is just going to be a return to crony politics while donors get rich and taxpayers get stuck with the bill, like Ballard selling off utilities and parking meters.
The current mayor must be doing something right if everyone is being “victimized” by rising home prices in the city.
In the race for City County Councilor, one democratic candidate made a very good case for more funding and scrutiny in the assessors office, where real data does support the idea that we have an actual problem with regressive taxing. It turns out that about 80% of low value properties are over-assessed and 80% of high value properties are under-assessed.
And Joe has had eight years to focus on issues like that. Time for a change.
Correct!! We All know it.
And did you know before I told you, how regressive our Indy property taxes are? Maybe the Mayor has read the study by the University of Chicago, but I doubt it.
What Patricia said is spot on. The status quo is killing Indianapolis.
It is jst amazing that an “innovative” idea comes out a few days prior to the election. In all of the ads we have heard about plans, plans, but nothing concrete ever came about. Just criticism. Wow, he finally thinks???
There are many problems, but many take much more than just the mayor to solve. We have made a lot of progress in the past 8 years and must be thankful for that also.
There is a lot to “thank” Joe for…four years of murder rates over 200, homicide solve rate that has fallen from 80% when Joe took over to 35% now, deplorable animal shelter and so many other signs of failure.
As for plans…Shreve has a great record during his city council time, built a very successful business based on his vision and has given back to so many important causes in Indianapolis because he believes in his hometown. He is now utilizing what he has learned and outlining a vision for the city.
Joe on the other hand has had eight years but more recently started releasing some plans based on reactions to what Shreve has pointed out. And yes he released other “plans” over the years (e.g. his plan to end homelessness, his plan for a new animal shelter) but they have failed.
It is time for a change!
Shreve was twice appointed to the Council to replace resigning elected officials and served around 4 years total.
Name for me one thing he did while on the Council.
I’ll wait.
Shreve’s proposal is fraught with all sorts of potential pitfalls for homeowners. The most serious is the possibility that assessments drop, and the future sale price is too low to pay back the deferred property tax. Then what? Shreve complains that Mayor Hogsett uses tax dollars to fund all sorts of things that ought to be paid for by private dollars, but at least Hogsett is using tax dollars to invest in a better city that benefits all citizens with actual returns on those investments. Shreve, on the other hand, would use tax dollars that favor few at the expense of many with no real return.
You clearly have not read the plan. You are absolutely incorrect about Shreve’s plan and how it would work. The bonding of the deferred taxes puts the cash in the cities coffers and does not reduce the ability to use the dollars.
It’s Hogsett’s mismanged of TIF money that puts the city in fiscal peril.
It is time for a change.
The amount of revenue that Indianapolis can collect is largely controlled by state legislators, who control what taxes can be levied by local governments while also controlling what revenue is returned to local governments.
I know with road funding that Indianapolis doesn’t get back what it contributes with gas taxes. It would not surprise me if Indianapolis subsidized the state with other taxes.
When it comes to things like gas taxes, Shreve has already said he isn’t going to fight for more money at the Statehouse, he’s just going to be more “innovative” with fixing potholes, which is like claiming you’re going to balance the federal budget by eliminating fraud and waste.
Why not simply freeze their property tax. period. Why the payback? Why complicate it?
I agree, but the City/State needs property tax for infrastructure, education, fire/police, etc. The money is still needed. Deferring is only going to cause confusion when sold.
Because the city does need the $$ to support its budget and investment.
Shreve needs to move out of state. Weirdo