For Immediate Release
Department of Local Government Finance Orders Reassessments in Three More Counties
INDIANAPOLIS (July 25, 2007) - The Department of Local Government Finance (DLGF) today announced property tax reassessments in three more counties. Six other counties were also recognized for being the first to adopt new revenue options approved by the 2007 Indiana General Assembly to offset property taxes dollar for dollar.
Governor Mitch Daniels directed DLGF to initiate a professional reassessment of all property in Gibson, Posey and Delaware counties. At this time, businesses and homeowners should pay the same amount they did in 2006 as directed by the county treasurer. Adjusted property tax bills will be issued once the reassessments are complete.
The DLGF is continuing to review information and, on Monday, sent demand letters to 71 county officials to provide local tax data. Counties that are having difficulties analyzing their data can contact the DLGF for assistance. The agency has assembled a multi-disciplinary team to help officials dissect and submit their data.
Daniels also noted that Brown, Jasper, Jay, Montgomery, Morgan and Pulaski counties are the first to adopt new revenue options approved by the 2007 Indiana General Assembly to offset property taxes. Depending on the replacement tax relief passed in each county, on average, homeowners will see their property taxes reduced between 25 to 65 percent.
Every county has the authority to adopt a local option income tax to help offset the loss of inventory taxes and lessen the impact of property tax reassessments. Daniels extended the deadline, until October 1, for counties to adopt new revenue options. At least three more counties have proposals under consideration.
Counties can choose to implement an incremental local income tax to generate budgeted revenue growth rather than raising property tax levies. The cumulative incremental tax rate may not exceed one percent.
Media Contact: Stephanie McFarland, (317) 234-3793, email@example.com
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