IndyTaxHike.com

If you did not hear Mitch Daniels speech on Tuesday October 23rd, here are the highlights.

1. Property taxes would be capped at 1%
2. Adding 1 % to the sales tax
3. State would take over 3.1 million in school and child welfare taxes
4. State would eliminate a 2 million dollar tax credit that it gives to local governments
5. Eliminate the majority of state assessors

OK… So what does it really mean.

1. The timing of this announcement could not have been worse for Ballard and his supporters. Just like Bart Peterson and the stadium deal, here comes Mitch to the rescue.  Mitch could have easily waited till after the election to announce this.  I guarantee that you will hear Bart supporting this on the next debate.
2. What happens in 2007?  No one knows yet but from what I surmise, we will be receiving 3 tax bills this year.  It sounds like a catch up amount that will be due on April 15th 2008.  

I must say, the 1% cap does sound attractive to me.  My personal tax bill would be more than cut in 1/2 compared to the last assessment.  But what do we do with the 2007 balance?  I will not pay the 3rd bill.  At least not right away.  In fact, I would like to see everyone abstain from paying that last bill.  The more the merrier.In regards to the Ballard campaign, just like Daniels, there are a number of things that Bart has done that are good, it’s just that now all of his taxes have come back to bite him.  Without this whole “tax issue” going on, not only would Bart win by a land slide, but Ballard would not even be running.  Although he is not saying it publicly, Micth appears to be supporting Bart instead of his own candidate.Here are a few of the questions I still have.

1. Why did it take this tax crisis to figure out that we don’t need 1100 assesors?
2. Why didn’t Bart pull the plug one bringing home cars 8 years ago, saving 45 million dollars along the way?
3. I have so many issues with the school system.  Why are costs so much higher today when the enrollment is less than 1/2 of what it was 20 years ago?  Why are the school building funds and salary funds separate?  As I understand it, the building funds must be spent every year or they are lost? 
4. Bart… you raised taxes to be tough on crime, 90 million to be exact.  Of that 90 million, less than 12 million is for new officers on the street.  Here is the PDF breakdown.  85% of these monies is for administration BS.

Whats next…  Well if you listen to idiots like Bauer, he has already made the point that the legislature will want to put their stamp on Daniels proposal.  What does this mean?  It means adding a bunch of pork and crap that help benefit each politicians constituents.  I would also say…. GET RID OF THEM ALL!!!  They screwed things up… They knew they were doing it when they did it… and they no longer deserve our trust.  I will shortly post a list of the incumbents.  If you have this list please forward it in a comment.

The Voice

2006 General Assembly Voting Record:

“Major Moves” House Bill 1008 is Taxpayer UNfriendly because it authorizes the Indiana Department of Transportation to enter into public-private agreements with private entities (operators) concerning tollway projects for I-69 between Martinsville and Evansville. HB 1008 also authorizes the Indiana Finance Authority to enter into public-private agreements with operators for the Indiana Toll Road. (more…)

The Marion County Treasurer’s Office says there are four major reasons why you may be paying more this time. One is the assessed value of your property is higher. Another is that the old business inventory tax has now been shifted onto property owners. The third reason is that the county owes $48 million this year on the state child welfare program and finally, the state tax credit dropped from 28 percent to 20 percent.

Transforms Landscape for Taxpayers

With the conclusion of the politically tempestuous special session of the General Assembly, Indiana taxpayers – businesses and homeowners – now must determine the impact of House Enrolled Act 1001 (ss) (“H.E.A. 1001”), the primary accomplishment of the session. After months of posturing, political in-fighting and debate about genuine philosophical differences, the Indiana General Assembly enacted H.E.A. 1001 on June 22, 2002, and the Governor signed it into law on July 1, 2002. While the ultimate impact on our state’s economy is presently the subject of much debate, the Bose McKinney & Evans Tax Group has taken the opportunity to identify a few of the more noteworthy provisions of H.E.A. 1001, and how the changes could affect business’ bottom line.

Although every taxpayer will likely be affected by H.E.A. 1001 in some way, the summary that follows focuses on a few of the major tax changes affecting businesses (and their customers), and what those changes mean for companies conducting business in Indiana. In particular, this summary will highlight changes in the three areas (more…)