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The state also collects an additional income tax for the 92 counties. Local governments are funded by a property tax that is the sum of rates set by local boards, but the total rate must be approved by the Indiana General Assembly before it can be imposed. Residential property tax rates are capped at maximum of 1% of property value.
A payment in lieu of taxes, abbreviated as PILT or PILOT, [1] [2] [3] is a payment made to compensate a government for some or all of the property tax revenue lost due to tax exempt ownership or use of real property.
The growth of property tax bills has been a major campaign trail issue. Here's what Indiana's gubernatorial candidates want to do about it. Indiana's governor candidates want property tax relief.
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
The council members serve four-year terms. They are responsible for setting salaries, the annual budget, and special spending. The council also has limited authority to impose local taxes, in the form of an income and property tax that is subject to state level approval, excise taxes, and service taxes. [8] [9]
All Indiana counties have a local income tax reported on Form IT-40. The rates for readers in the local area: St. Joseph (.0175), Elkhart (.02) and Marshall (.0125).
The council also has limited authority to impose local taxes, in the form of an income and property tax that is subject to state level approval, excise taxes and service taxes. [ 38 ] [ 39 ] In 2010, the county budgeted approximately $2.2 million for the district's schools and $2.8 million for other county operations and services, for a total ...
Tuesday, April 15, 2025: Filing deadline for 2024 taxes (this is also the last day to apply for a free tax extension) Wednesday, October 15, 2025: Filing deadline for 2024 extension filers This ...
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