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On Local Government Indiana’s Property Tax, 2008

On Local Government Indiana’s Property Tax, 2008. Larry DeBoer Purdue University February 1, 2008. Homeowner Property Taxes, 2008. Tax Plans for the 2008 Session. Tax Plans for the 2008 Session of the Indiana General Assembly. Estimated Impact of HB 1001 (Gov’s Proposal).

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On Local Government Indiana’s Property Tax, 2008

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  1. On Local GovernmentIndiana’s Property Tax, 2008 Larry DeBoer Purdue University February 1, 2008

  2. Homeowner Property Taxes, 2008

  3. Tax Plans for the 2008 Session

  4. Tax Plans for the 2008 Session of the Indiana General Assembly

  5. Estimated Impact of HB 1001 (Gov’s Proposal)

  6. Indiana Home Values and Incomes • American Community Survey, U.S. Census • Sample of 2.4 million households in Indiana • 72% are homeowners; 28% are renters • Median income for homeowners is $56,000 • Median home value is $121,000 • Most renters have incomes less than $35,000; median is $25,000

  7. Indiana’s Median Homeowner

  8. An Indiana Lower-Income Renter

  9. Tax Changes for 60 Households

  10. Tax Changes for 60 Households

  11. Tax Changes for 60 Households

  12. Tax Plans for the 2008 Session of the Indiana General Assembly

  13. Tax Plans for the 2008 Session of the Indiana General Assembly $2,500 added deduction, x 3.4% = $85 Added 3% of Federal EIC = $78 Total $163

  14. Tax Plans for the 2008 Session of the Indiana General Assembly

  15. Estimated Impact of HB 1001 (Gov’s Proposal)

  16. Indiana’s Median Homeowner (in a high-tax rate county)

  17. Circuit Breaker Credits by Home Values (in a high-tax rate county)

  18. Estimated Circuit Breaker Tax Credits

  19. Estimated Circuit Breaker Tax Credits

  20. Circuit Breaker legislation has changed security on debt to limited tax from unlimited tax • Outlook for Indiana debt is negative

  21. Tax Plans for the 2008 Session of the Indiana General Assembly

  22. Tax Plans for the 2008 Session of the Indiana General Assembly

  23. Bond Issue Approval Procedures in the United States, 2007

  24. Six Studies of School Referenda Results A cost-benefit calculation by voters

  25. Tax Plans for the 2008 Session of the Indiana General Assembly

  26. Policy to Improve Assessment Practice, and Research Results

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