Apparently, one of the "unintended consequences" of Governor Mitch Daniels property tax reform is that casino revenues will no longer be required to support the 2% property tax cap for property owners with homestead exemptions. It is estimated that 14 million in casino revenue is used annually to fund the cap.
If our elected leaders can preserve that morsel, it would be a significant event for the city of Hammond. To be fair, the 3% proposed cap for business would probably extend to BP, that would put a hit on the revenue side of the ledger for the city.
Also in play, The states relentless pursuit of the 1% county income tax (would BP have to pay?) and the possibility of saving approx. 40% on the School City portion of your tax bill if the Governor's proposals are adopted.
These are complex issues, with real consequences for the city's residents. There is an opportunity for the city to end up with a revenue source to fund the repair of the sewer system so that flooding is truly a thing of the past.
There are no "free lunches", revenue will be generated somewhere. A possible 1% increase in the sales tax, a proposed STIF for the expansion of the South Shore. Gary Airport will have moved the rail lines soon and work will begin on the runway. How long until they attempt to fund their projects at our expense.
How our revenues are generated and how they are spent are crucial for the long term success of our city, now more than ever.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment