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Last updated on Thursday, July 12, 2007
(STATEHOUSE) - Governor Mitch Daniels is making some moves to deal with the property tax crisis and it could mean even higher income taxes in Marion County, as a result.
Daniels Wednesday authorized a two month extension on the deadline for counties to use the county option income tax, which could offset property taxes in many cases. The original deadline was August 1st and it's now been moved to October 1st.
Forty three counties are already using the County Option Income Tax (COIT)to offset property taxes. This comes at the same time Indy Mayor Bart Peterson is proposing an income tax increase to pay for public safety.
Daniels says the savings to homeowners in Marion County, with the COIT, would be millions. Peterson has not yet tapped into the COIT for property tax relief.
Daniels says he also has the final numbers for assessments in Marion County and, if he finds discrepancies between increases for business and home owners, he will order a complete re-assessment.
Daniels says he is also crafting some legislation that would require what he calls a hopefully short special session. Daniels says he will make more announcements about property tax relief in the coming days.
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