The local income tax options will save cities and counties tons of money. But Fort Wayne wanted to wait until it can collect even more than they are collecting this year. This billing cycle for taxes 2006-2007 is not capped at the 2%, so the city leaders went for the gusto and collected as much as they wanted. I said whatever they wanted, I did not say what was necessary for their budget. The budget would somehow just add up to the total they scammed from taxpayers with help from trending.
At assessing property higher than the appraised value, the officials will have to place the cap on the next property tax bill which will be due in March or May 2008. This will be when they will know how much they will be able to collect from the 2% cap. So they want to stall and wait before they buy into the income tax option.
But the State Government is telling the local government not only will you have to place a cap on how much you can collect in property tax, it is also giving them another option to further reduce homeowner property taxes during the same time period with the use of the income tax option.
This is the income tax option that Fort Wayne wants to wait and see how much they collect before they offer their citizens additional saving on their tax bill!!!!!!
The original date that the cities had to sign on the dotted line was August 1. Now Governor Daniels is giving those cities who thought the folks would not rise up and demand that the government to do something another chance to sign on the dotted line by extending the deadline until October 1.
This is just one solution that is available for cities and counties to remedy the problem of the over assessing of property that news reporters are unable to explain to the citizens who read their newspapers
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