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Property tax rates in Indiana are capped a maximum of 1% of value for residential, 2% of value for rental and farmland, and 3% of value for all other types (the actual rates may be higher, but the maximum paid after deductions is capped through a "circuit breaker" tax credit). [8] The property taxes are assessed ad valorem.
Values are determined by local officials, and may be disputed by property owners. For the taxing authority, one advantage of the property tax over the sales tax or income tax is that the revenue always equals the tax levy, unlike the other types of taxes. The property tax typically produces the required revenue for municipalities' tax levies.
In Butler County, north of Cincinnati, property values soared 37% and the property taxes increased on average 13%. East of Cincinnati in Clermont County, property values rose 30% and taxes went up ...
A number of services and governmental responsibilities, including road maintenance, natural resource management, zoning, and flood control, are delegated by the state of Indiana to county-level government; As a result, residents of the excluded cities are obligated to pay county-wide taxes, and the powers of the mayor of Indianapolis extend to ...
Effective property tax rate for owner-occupied homes: 1.9%. Median property taxes paid for owner-occupied homes: $5,776. The median owner-occupied home value is $281,100 in Chicago, Naperville and ...
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The council 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. [9] [10] Board of Commissioners: The executive body of the county. The commissioners are elected county-wide to staggered four-year terms. One commissioner serves as president.
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.