{"id":426,"date":"2008-03-16T10:10:37","date_gmt":"2008-03-16T14:10:37","guid":{"rendered":"http:\/\/www.realst8.crankpin.com\/property-tax\/follow-the-news-on-indianas-property-tax-reform\/"},"modified":"2008-03-16T10:14:46","modified_gmt":"2008-03-16T14:14:46","slug":"lawmakers-approve-indiana-property-tax-reforms","status":"publish","type":"post","link":"https:\/\/www.realst8.com\/staging\/9756\/property-tax\/lawmakers-approve-indiana-property-tax-reforms\/","title":{"rendered":"Lawmakers Approve Indiana Property Tax Reforms"},"content":{"rendered":"<p>The state lawmakers in the house and senate approved a property tax reform bill Friday, 3\/14\/08. <a href=\"http:\/\/www.in.gov\/apps\/lsa\/session\/billwatch\/billinfo?year=2008&amp;session=1&amp;request=getBill&amp;docno=1001&amp;doctype=HB#latest_info\" title=\"Indiana's HB 1001\" target=\"_blank\">HB 1001<\/a> is the long discussed and significantly modified product of governor Mitch Daniels&#8217; October 2007 property tax proposal (<a href=\"http:\/\/www.mymanmitch.com\/property_tax_plan.html\" title=\"Mitch Daniels Indiana Property Tax Plan\" target=\"_blank\">overview<\/a> \/ <a href=\"http:\/\/www.ai.org\/gov\/3105.htm\" title=\"Detail of Mitch Daniels Property Tax Reform for Indiana\" target=\"_blank\">details<\/a>).<\/p>\n<p>The passed bill retains the &#8220;one-two-three&#8221; percent caps on property that is residential and owner-occupied (1%), rental or agricultural (2%), and commercial (3%), but requires more than a few asterisks:<\/p>\n<ul>\n<li>It raises the state sales tax to 7%.<\/li>\n<li>The caps are phased in, so they won&#8217;t be fully effective until 2010.<\/li>\n<li>Two counties, <em>St. Joseph<\/em> and <em>Lake<\/em>, are partially exempt from the caps &#8211; taxes to cover payments on existing debt are not capped until 2020.<\/li>\n<li>Schools that can&#8217;t make ends meet under the caps can appeal the limits through voter referendums and governmental units that face 5+% shortfalls can appeal to a Distressed Unit Appeals Board.<\/li>\n<li>Counties have the option of raising local income taxes to offset declining revenue.<\/li>\n<\/ul>\n<p>The full bill is lengthy and makes broad changes to the funding of schools, children&#8217;s residential psychiatric treatment, certain police and firefighter pensions, and other governmental expenses.<\/p>\n<p>More about Indiana&#8217;s property tax reform under HB 1001:<\/p>\n<ul>\n<li><a href=\"http:\/\/www.in.gov\/apps\/lsa\/session\/billwatch\/billinfo?year=2008&amp;session=1&amp;request=getBill&amp;docno=1001&amp;doctype=HB#latest_info\" title=\"digest and full text of Indiana's HB 1001\" target=\"_blank\">thorough digest and full text of the bill on  the state of Indiana&#8217;s  web-site<\/a><\/li>\n<li><a href=\"http:\/\/www.indystar.com\/apps\/pbcs.dll\/article?AID=\/20080314\/LOCAL\/803140468\/1196\/LOCAL190104\" title=\"IndyStar story on peroperty tax reform\" target=\"_blank\">article from the IndyStar on the passage of HB 1001<\/a>, with quotes from many lawmakers<\/li>\n<li><a href=\"http:\/\/www.southbendtribune.com\/apps\/pbcs.dll\/article?AID=\/20080315\/News01\/803150301\/0\/SPORTS\" title=\"South Bend Tribune story on property tax changes for Indiana\" target=\"_blank\">article from the South Bend Tribune on property tax reform<\/a>, with an estimate on South Bend Area tax amounts under HB 1001<\/li>\n<li><a href=\"http:\/\/nwi.com\/articles\/2008\/03\/15\/news\/top_news\/doc9e0f636ddd6eee448625740d000dc292.txt\" title=\"Northwest Indiana Times summary of HB 1001\" target=\"_blank\">article from the Northwest Indiana Times  on HB 1001<\/a>, with a readable summary of the bill.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The state lawmakers in the house and senate approved a property tax reform bill Friday, 3\/14\/08. HB 1001 is the long discussed and significantly modified product of governor Mitch Daniels&#8217; October 2007 property tax proposal (overview \/ details). The passed bill retains the &#8220;one-two-three&#8221; percent caps on property that is residential and owner-occupied (1%), rental [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[11],"tags":[],"class_list":["post-426","post","type-post","status-publish","format-standard","hentry","category-property-tax"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/comments?post=426"}],"version-history":[{"count":0,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/426\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/media?parent=426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/categories?post=426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/tags?post=426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}