Change in State Tax Policy Raises Local Property Taxes

Because of changes to state law, local property taxes have been on the raise. Mayor Graham Richard explained what changes took place mainly because of:

The State of Indiana has reduced property tax credits, which has increased the taxes due.
* State Homestead Credit: reduced by 40%

* State Property Tax Replacement Credit: reduced by 13%

* The result is an increase in local property taxes

Richard went on to say

"We are committed to reducing the tax burden on taxpayers while maintaining excellent services,” said Mayor Richard. “We have been fiscally responsible and have one of the lowest city property tax rates since the 1960’s.”

Despite the fact that property taxes have gone up, the city only tax rate is down by 5.6%.

Source: http://www.ci.ft-wayne.in.us