Well it turns out I am not the only one in favor of offsetting property taxes with an increase in sales tax. A recent poll conducted by the Indianapolis Star and WTHR found that 62% of Hoosiers are in favor of the tax increase, 27% oppose it, and 11% are undecided. Several different proposals to ease the property tax burden are swirling about and they all hinge on an increase in sales tax.
Senator Luke Kenley who headed the committee that studied tax relief options was quoted as saying “My reading of the situation is that the public is willing to pay some of these other taxes under two conditions: The replacement tax must be just that, a replacement, now a source of new revenue, and the public expects governements to look for ways to operate on less money”. Well, duh. Of course we don’t want you to use this as way to get more money out of our pockets for some other pet project. We are just looking for a way to bring the property taxes down to a reasonable level.
Mark my words, some sort of property tax reform will take place next year. It is way too hot of a topic not to be of the utmost importance to our lawmakers.
This is just one more piece of the puzzle that is falling into place to get the
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Date: 2007-12-06 08:49:54Views: 308
Comments
Jayson
I think I'm still with the 11%. I know that we need to change something but am not sure if the increase in sales tax is what needs to be done. It seems like a good idea on the surface but I'm doing a little more research into it. I think you're right though, there will be some big
changes coming as this is a huge topic and national concern.
Mike Taylor
@ Wade - While I do agree with you in theory, I am very apprehensive to abolish property taxes all together. I agree that you cannot truly own your home with property taxes in place, however I would be very worried about the implications if we were to shift this burden to another part of the economy. I think this is especially true if this were only a local (county, city, or state)decision.
@Jayson - What has happened here locally is out of control. Some people have seen their taxes double or triple in a one year period. I am not sure there is a perfect fix, but this does seem like a step in the right direction.
Sam Chapman
I guess cutting spending in other areas just isn't an option? I think you will see a lot of markets come up short as property values decline. Where th emoney will come from is bound to be a story all over the place soon.
Wade Young | Denver, CO
There is no such thing as truly owning property if property taxes are in place. If the economy goes south and people don't have the money to pay their taxes, they lose their property -- and sometimes over small amounts. Elderly folks sometimes lose their homes over unpaid taxes. I'm against property taxes for that reason, but sales taxes are fine.