UPDATE: Indianapolis Public Schools again scales back referendum to win chamber support
The new proposal—which comes after a week of intense negotiations between the district and the chamber—passed 5-0 at a meeting Tuesday night.
Property taxes
Articles
Huge surpluses have dried up for downtown tax increment financing district
Tens of millions in spending, along with unforeseen events, have drained the TIF’s unrestricted cash balance—money left to fund extra projects after covering debt and reserves.
Law kicking in July 1 puts backers of $3M downtown fund on hot seat
Suddenly, Downtown Indy’s quest to create an economic improvement district in the Mile Square faces a major new obstacle.
Area residents rush to prepay property taxes to try to secure deduction
But it’s unclear whether some of the people prepaying will actually be able to claim the deduction, as the IRS has issued guidance that limits what qualifies.
Proposed fee for Mile Square property owners attracts opposition
Downtown Indy is encountering resistance from some big property owners to its plan to create an economic improvement district that would raise about $3 million annually through a fee.
City to consider $15.2M in bonds for downtown projects
The bonds would help finance development of a hotel complex on the site of Indianapolis’ oldest African-American church, as well as a five-story apartment and retail project near the base of Massachusetts Avenue.
City set to rescind tax breaks for planned Interactive Intelligence expansion
The company that bought Interactive Intelligence last year for $1.4 billion has fallen short of the Interactive’s hiring and investment goals and is vacating a new, $12.4 million office building on the northwest side.
‘Bottoms Up’ beer-dispenser maker faces tax-break termination
The Metropolitan Development Commission is slated to vote Wednesday to terminate a tax-abatement agreement with Indianapolis-based GrinOn Industries LLC, makers of the “Bottoms Up” beer-dispensing system, which fills cups from the bottom.
City officials to vote on Rexnord’s $381K tax-break clawback
The resolution directs the manufacturer to pay back the money and authorizes the Department of Metropolitan Development “to take such action as is necessary to recover said damages.”
School referendums are passing at higher rates than before
It was a banner year for school referendums across Indiana, with all but three of the 20 ballot questions in this year’s primary and general elections turning out successfully for the districts.
Washington Township district warns of staff cuts if voters don’t choose tax hike
If the school district’s ballot measures worth $230 million pass, the district says it will upgrade technology, renovate existing schools and build a new elementary school.
Downtown TIF expansion in works
Mayor Joe Hogsett’s administration is targeting the former General Motors stamping plant site on the west side, where development plans have stalled, and the upstart Market East District on the opposite end of downtown.
Lawmakers OK agricultural property tax relief bill
Farmers will get property tax relief under a bill approved Thursday that shifts a potential burden of about $136 million onto other taxpayers over the first three years.
Senate passes legislation to help farmers by cutting tax bills
Senate Bill 308, which is now headed to the House for consideration, would reduce the total assessed value on agricultural land by an estimated $4.2 billion for taxes paid in 2018 and $8.9 billion for 2019.
Tax break in works for struggling farmers
Farmers across Indiana would get a big property tax cut under legislation moving through the General Assembly that would reduce their assessed land values an estimated $4.2 billion for taxes paid in 2018 and $8.9 billion for 2019.
Lawmaker proposes reforms in how big-box stores are assessed
Indiana lawmakers are making another attempt to settle a dispute between county assessors and retail stores over how to determine the value of newer big-box stores.
Bill targets homeowners in revitalized neighborhoods
An Indianapolis woman is advocating for state legislation that would provide property-tax relief for longtime homeowners in designated distressed areas.
State audit expresses doubts about Terre Haute’s future
The audit of Terre Haute’s finances raise doubts about its ability to continue to operate as a municipality. It notes that the city is one of those hardest hit by reductions in property values and property tax caps.
Counties push another look at big-box tax appeals
County officials say a legislative fix for the issue passed earlier this year wasn’t strict enough. They say big-box stores are skirting their tax burden by using using vacant buildings to determine the value for taxation of brand-new stores.
Mayoral foes: City must draw residents to bolster tax revenue
Attracting higher-wage residents is key to future growth as city revenues have stagnated and local governments have become increasingly reliant on income taxes. Republican Chuck Brewer and Democrat Joe Hogsett are proposing ways to bolster Indy neighborhoods.