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.
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.
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.
Uncertainty still looms over how much retail assessment appeals could reduce revenue for local governments, libraries and schools or whether they’ll shift costs to other taxpayers, including businesses and homeowners.
In an arrangement observers are calling unusual, the city of Westfield has been paying hundreds of thousands of dollars in rent and property taxes for land at Grand Park.
The $3.85 million project would allow the regional carrier to train as many as 5,000 employees per year.
Four high-profile downtown office towers that recently attracted out-of-state buyers have become embroiled in disputes over their property tax assessments.
The Hamilton Southeastern School Board on Tuesday morning postponed a vote that could have put a referendum over a property-tax hike on the November general election ballot.
John Morrell Food Group, one of the oldest meat manufacturing firms in the nation, plans to build and equip a massive refrigerated distribution center just east of Indianapolis.
The bill comes as assessors around the state worry that recent Indiana Board of Tax Review decisions in favor of Meijer and Kohl’s will force them to slash the value of big-box stores during the upcoming spring assessment cycle.
Lawmakers raised questions and community leaders testified against a bill that would require that referendums for school and government construction projects occur only during general elections every other year.
The Indiana Board of Tax Review ruled in December that the East 96th Street Meijer store—one of the most successful in the state—should have been assessed in 2012 at the equivalent of $30 per square foot, not the $83 per square foot assigned by Marion County.
After planning a move to Westfield, Algaeon Inc. has instead leased new space in Indianapolis for a research and production facility. Planning 25 hires, it is seeking a tax break from the city on $4.9 million in new equipment.
The owners of rental homes and apartments are among the property owners that are helped most by a tax cap system the state fully implemented in 2010.
Carmel, Fishers and Noblesville are trying to head off appeals that cause tax revenue to come in lower than expected, especially for projects within tax-increment-financing districts.
Indianapolis is considering nearly $2.6 million in tax breaks over 10 years as an incentive for Interactive Intelligence’s planned $28 million investment.
Politicians in Indiana and other states hope tax cuts for businesses will boost their economies, but those and other moves could be contributing to the income gap limiting growth in U.S. consumer spending.
State-mandated tax caps are putting additional pressure on public budgets—and spurring local governments to take unusual steps to help their cash-strapped schools.
Carmel-based Heartland Food Product Groups is seeking nearly $1 million in tax breaks on building work and new equipment for its Indianapolis production facility.
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
