Tuesday, May 01, 2007

Property Taxes

Property taxes are going up 24% and lawmakers in both Parties acknowledged that this needs to be addressed...

So they passed a budget that will still allow property taxes to increase by 24%; however, they will send a rebate check in late 2007 or early 2008. This is expected to end up reducing the increase to an average of 10%.

What moron came up with this idea?

Why was this passed by the Democratic House on Party lines and then passed the Republican Senate overwhelmingly?

If you are a Hoosier I want to know what you think of this...

Consider the following:

If your property taxes increase 24% you still have to pay them; however, the State Government will issue you a rebate check. Our Government is going to have to determine how much each property owner should be paid and cut them a check. Does anyone think that is going to be easy for Indiana to accomplish?

What happens if your house is sold during this time?

Can you imagine how this is going to effect people's escrow accounts? Your escrow payments are going to go up significantly.

Mike Sylvester


Tim Zank said...

Anybody with an escrow account will in fact see a big bump in their monthly payment, but Mike, you're overlooking the benefit....

They (legislators) just helped us create forced savings accounts at minus 14% (-)!!! Why would anyone object to that?

I don't envy you Allen County folks, the 24% increase is bad enough, but after you complete your FWCS building & lunar space station you're REALLY gonna be hurting.

Anonymous said...

I still got a little vaseline left over from Harrison Square.

Anonymous said...

Mike - Maybe we can convince our lawmakers into setting up an extension to the Jefferson Pointe TIF district to include each of our homes so we can then pay our property taxes with someone else's money (oh, I forgot, that someone else is me) John B. Kalb