Summary
INDIANAPOLIS - Property taxes in Indiana could be eliminated if the state's sales tax was increased from 6 percent to 13.2 percent or by raising the individual income tax from 3.4 percent to 9 percent, a property tax reform panel was told Monday.
Each of the options could raise the $6.2 billion that property taxes are bringing in this year to pay for local governments and schools, according to an analysis the Legislative Services Agency presented to the Commission on State Tax and Finance Policy.See the full content of this document
Extract
Study Explores How Property Taxes Could Vanish
The panel of lawmakers and outside tax experts is exploring ways of reducing local government's reliance on property taxes, and may have recommendations for the Legislature to consider as early as its or...
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