Wednesday, July 17, 2013

Homestead Tax Credit Elimination Moves Forward to Full City-County Council Vote on July 29

The Mayor Greg Ballard-backed proposal to eliminate Marion County's homestead tax credit is moving to the full City-County Council.  It passed out of the Administration and Finance Committee tonight, 5-3.

Three Republicans and two Democrats (Joe Simpson and Mary Moriarty Adams) joined to pass the proposal to the full Council.  Three Democrats, Pam Hickman, Angela Mansfield, and Maggie Lewis, voted against the proposal.

If passed by the full Council on July 29, the elimination of the credit will only bring the city $8 million more dollars.  It's the latest attempt by the Mayor to squeeze more money out of Marion County taxpayers.

At some point, we residents of Marion County feel like frogs in a pot of boiling water. We are paying more for electricity, water, sewer, and many other services. It keeps costing more to buy goods and services, a gallon of gas, and a pound of hamburger. We are being nickel and dimed to death.

As a city, we are ready to put our hat in our hand and hand over $18 million more to a developer to build a new skyscraper downtown to attract more taxpayers to our city.  That's what they will tell you.  What they won't tell you is that this new development will more than likely come with a new tax increment financing or "TIF" district.  In theory, this means the property tax generated at that site goes back into building and improvements at the site of the TIF district.  In practice, it means that the city will never see that property tax money again because TIFs never sunset in this city, and we have set a dangerous precedent of raiding these TIFs to pay for other things.

I'm just growing more tired of it as many others are too.

This Mayor ran in 2007 by telling us he could do everything without asking for more of our money yet that's all he's done, and it's picking up even more. Now, he wants to get rid of the homestead tax credit.

Call your Councillors.  Here is the contact information for all Councillors.  Call the Mayor at (317) 327-3601, and attend that Council meeting on July 29.  Make your voice heard whatever side of this issue you are on.

2 comments:

Paul K. Ogden said...

Jon, don't forget the developer is getting the MSA land for free too - some appraised at over $5 million.

Anonymous said...

Not really sure how eliminating the Homestead tax credit will bring in money. They could eliminate all the exemptions from the property tax and it wouldn't change what I pay. The 1% cap is under what I would pay with the exemptions. My only concern would be the exemptions disappear and then the find a way to remove the cap. Talk about financial pain.