Farm Bureau Seeking Immediate Tax Relief
(INDIANAPOLIS) - The Indiana Farm Bureau is calling for income and sales tax increases to pay for a 30-percent property tax cut.
The farm bureau has long advocated abolishing property taxes, but President Don Villwock says the organization is shifting focus to try to deliver some relief immediately.
The Bureau believes it's defused the usual objection that property taxes will just creep up again if they're not killed outright, by eliminating entire tax levies instead of just reducing them.
Under the Bureau's plan, the state would take over all school, court and child-welfare funding. To pay for it, income taxes would rise one point to 4.4%, and sales taxes would rise one point to 7%.
That would raise not only the money to cover the new spending responsibilities, but an extra 400-million dollars for a schools-only rainy-day fund. If that fund overflows, Villwock says it could be used to pay off school debt around the state.
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