Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowGary officials are asking a state board to increase property tax caps that limit annual tax bills for the city’s homeowners and businesses.
City officials went before the state’s Distressed Unit Appeals Board Monday, seeking an exemption from the caps imposed by the General Assembly last year.
Gary officials say the city may lose $30 million under the tax caps. They say the city bus system, airport and sewer districts face a combined shortfall of some $36 million in 2009 after the city outlined $9 million in spending cuts.
Gary Mayor Rudy Clay says the 96,000-person city will see the layoffs of hundreds of workers, including police and firefighters, without the additional tax revenue.
It was uncertain when board members would make a decision on the request.
The Wall Street Journal reported today that more states are considering property-tax caps this year. Indiana’s lawmakers are expected to decide whether to let voters weigh in on a constitutional amendment that would permanently cap residential taxes at 1 percent of a property’s value.
Please enable JavaScript to view this content.