Indiana Association of Cities and Towns 200 S. Meridian Street, Suite 340 Indianapolis, IN 46225
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1 Solutions to meet Indiana s local finance needs And reduce reliance on property tax Indiana Association of Cities and Towns 200 S. Meridian Street, Suite 340 Indianapolis, IN 46225
2 What needs to be done: Allow local governments flexibility in selecting and applying revenue solutions Why? There is no single revenue solution that works for every city, town, county and government entity. The property tax system isn t as broken in some cities, towns and municipalities as it is in others; thus what fixes revenue challenges in Angola is not necessarily the right solution for Zionsville. Local entities need a more diverse set of tax bases. Action needs to be taken to enable local governments to provide the services their constituents expect without property taxes escalating out of control. With a flexible range of funding alternatives and decision-making power given to local communities, local constituents will be the ultimate arbiters of what is economically healthy for their cities, towns and local governmental units. Sources of revenue for local government operations are not keeping pace with inflation let alone taxpayers expectations for services. What s causing fiscal challenges for local governments? Increased utility costs Rising health insurance costs Increased gasoline costs Pension liabilities, which are beyond local government control Unfunded mandates from state and federal governments being pushed down to the local level Citizens increasing expectations for service from their local governments Assessed value is decreasing in many parts of the state Income taxes are fluctuating as high paying jobs disappear Funds to maintain roads aren t keeping up with need. Assessed value is not uniformly keeping up with inflation Assessed value in 15 cities and towns studied by Hometown Matters, or 80% of these communities, decreased from 2003 to For most Indiana communities, real increases in the property tax base have averaged only 1% annually, much lower that the rate of inflation. Since our property tax base doesn t keep pace with inflation, property tax rates increase. What are the benefits? The solutions proposed by Hometown Matters will: 1) create efficiencies at the local level, 2) reduce reliance on property taxes, 3) find alternatives for financing needed local services, and 4) assist the State in balancing its budget (reducing reliance on property taxes frees up state funds that are currently used for property tax replacement) Changes In Assessed Value Danville 7% Cicero 7% Greenfield 10% West Lafayette -2% Frankfort -1% South Bend -4% Muncie -7% Greensburg -23% Rochester -7% Bluffton -11% Richmond -7% Terre Haute -5% Anderson -8% Seymour -21% Salem -25% Fort Wayne 4% Washington -9% Madison -4% Kokomo -2% Indiana Association of Cities and Towns 2
3 What happens if we don t make changes in the options available for local finance? Terre Haute -- An example of how cities, towns and municipalities are having trouble keeping up Given existing revenue sources and expenditures, 2007 projections for Terre Haute show that it faces a deficit of $4.6 million. The alternatives are to reduce services or tap into cash reserves. Even if the city exercises a maximum increase in property tax levy in each of the next two years, the projected shortfall between revenue and expenditures increases to $5.4 million for 2008 and $ 6.3 million for These shortfalls will grow by $2.5 million in 2010 when the 2% Circuit Breaker Tax Credit is fully implemented. Property taxes will increase, and the city will still be behind. No one will be happy. W h a t H o m e t o w n M a t t e r s p ro p o s e s 1) Allow local governments to have flexibility in selecting and applying solutions for generating hometown revenue including: Local Sales Taxes Supplemental Income Taxes Local Innkeeper s Taxes Local Food and Beverage Taxes Wheel Tax/Motor Vehicle Excise Surtax Local officials understand community needs and are accountable to local voters. Who better to know the community s needs than those who live there? Per capita municipal property tax More than $450 Property Tax Reduction After funding Tax Stabilization Fund in an amount equal to at least one-half year s revenues Percentage of new revenues required for property tax reduction 75% 2) Require recipients of new revenues to agree to reduce property taxes using a sliding scale where communities with the highest property tax rates use more of new revenues to reduce the property tax burden 3) Require recipients of new revenue to fund a Tax Stabilization Fund to cushion the instability of these new revenue sources 4) Eliminate procedural roadblocks to make these flexible solutions work 5) Encourage cooperation among local government entities and promote greater efficiency The complete Hometown Matters proposal spells out how these taxes would be adopted and distributed. Some of these solutions are already being used in parts of the state, but there is great potential to generate additional local revenue and reduce the dependence on property taxes. $350 - $450 $250-$350 Less than $250 50% 25% 0% For details, visit or call Indiana Association of Cities and Towns 3
4 A d d re s s i n g m i s c o n c e p t i o n s Misconception: Property taxes have skyrocketed Although it seems that property taxes have increased five fold from 1970 to 2000, you must adjust for inflation to have an accurate picture. In today s dollars (the red line below), per capita property taxes in Indiana have gone from $208 to $232 in 30 years. That s an increase of less than 12% over 30 years or less than half a percent a year. $1,200 Property Tax Per Person Misconception: Big spending is the cause of high property tax rates Of all the cities and towns participating in the Hometown Matters study: Muncie ranked among the highest in total property tax rate, but was among the lowest in terms of per capita spending. It was also near the lowest in terms of per capita assessed value. Greenfield had the lowest total property tax rate, but was about average in expenditures per capita. Its low property tax rate is due to its rank as third highest in assessed value, or property tax base, per capita. $1,000 Taxes per capita Real Taxes per Capita $1, Assessed Valuation per Capita and Total Tax Rate (Shown from lowest to highest) $800 $600 $400 $ $ $200 $ Misconception: All property taxes are paid by property owners. No. Of a taxpayer s annual property tax bill, 20% to 25% of the property tax bill is paid by the State of Indiana in the form of a property tax replacement credit (PTRC). If the State reduces these credits, the individual s property tax bill goes up. Property taxes are going up not solely because of expenditures. Property taxes are going up because the tax base is decreasing. In reality, property tax rates are more closely tied to assessed value as illustrated in the above chart. The lower your assessed value, the higher your property tax rate. Indiana Association of Cities and Towns 4
5 HOW PROPERTY TAX RATES ARE DETERMINED Property tax rates are determined by computing the amount of property tax revenues that will be needed to fund local government services and repay debt, within strict limits permitted by law. This is known as the property tax levy. The levy is then divided by the total assessed value of the taxing unit, referred to as the property tax base, to compute the property tax rate. Increases in local government expenditures only increase property tax rates if they exceed increases in the property tax base. Misconception: Total Assessed Value is increasing throughout Indiana. Total Assessed Value is increasing in some places, but it is decreasing in many others. Assessed value in 15 of the 19 cities and towns studied by Hometown Matters decreased from 2003 to That was a surprising finding, and it is attributable, in part, to the elimination of business inventories from the property tax base, reductions in the assessment of business investment due to recent changes in tax abatements, and from increases in homestead property tax exemptions. For most Indiana communities, real increases in the property tax base, excluding reassessments, have averaged only 1% annually, much lower than the rate of inflation. Since our property tax base hasn t kept pace with inflation, property tax rates have increased. Misconception: A uniform statewide change in the property tax system will fix all of the problems. One solution does not fit all. If that were true, our property tax system would have been fixed long ago. Some communities have strong local employment opportunities where income taxes may be a very appropriate source for funding local government, other local economies are driven by retail sales where sales taxes may be the best method for funding local services, others by tourism and entertainment where food & beverage taxes and innkeepers taxes can ease the property tax burden on local taxpayers, many others have only a property tax base to rely upon. Indiana communities are very different from one another. What is best for Angola may not be what is best for Zionsville. The means of providing local services should be local decisions made by locally elected officials accountable to local taxpayers and voters. Indiana Association of Cities and Towns 5
6 Your questions answered Where does local property tax go? How does Property Tax Relief work? Hometown Matters calls for local government entities participating in the flexible new revenue options to use a portion of these new revenues to reduce property taxes. The proposal requires increasing shares of new revenues be dedicated to reducing property taxes based upon the entity s property tax burden. The higher the property tax burden, the more revenues must be used to reduce property taxes. This chart shows the average relative appropriations of local taxing authorities statewide. Schools consume just about half of all property tax revenues Appropriations by Unit Type Most property tax relief will be directed toward Indiana s largest communities (indicated by the green box on the right side of the chart below), where most property taxpayers benefit. These largest communities: are at the highest end of the property tax scale, have the highest demand for service (police, fire protection, welfare and school), and have the greatest opportunity to generate revenue from alternative funding options. From 2000 to 2006, spending per capita for cities and towns increased at less than the inflation rate: for townships less than 4.5% for counties less than 4% for cities and towns less than 3% Percent Increases in Spending per Capita Indiana Association of Cities and Towns 6
7 Is replacing some or all of property tax revenue with state or county income taxes the right solution? Income Tax Volatility Income taxes can be part of the solution, but Hometown Matters recommends keeping a mixture of revenue sources to ensure a steady source of funding. Income tax is a particularly volatile source of revenue, because it is subject to economic variations, as illustrated by this chart. Of the 19 communities studied, all but one experienced at least one year from 2003 to 2006 with reductions in income tax revenues. How Does the Tax Stabilization Fund Work? The plan requires each local government entity that participates in the newly created revenues to fund a Tax Stabilization Fund in an amount equal to half of the first year s revenue within a five-year period. The balance of this fund can be used to cushion these annual fluctuations in revenues. How much do property tax rates vary? 2006 Property Tax Rates In the 19 cities and towns studied by Hometown Matters, the highest property tax rate was more than twice the amount of the lowest. Property taxes are not high throughout all of Indiana. More revenue options are needed for those with the highest property tax burden. One size does not fit all! Indiana Association of Cities and Towns 7
8 Hometown Matters Background Because of a need for sweeping changes in revenue and financing for local governments, the Indiana Association of Cities and Towns (IACT) offered to study the issues and bring recommendations to the Indiana General Assembly. IACT was joined in this study by Umbaugh, Ice Miller, Policy Analytics and locally elected officials from across the state. The committee collected and analyzed data, projected trends, and developed a variety of solutions called Hometown Matters. The 19 Indiana cities in this study were: Anderson, Bluffton, Cicero, Danville, Fort Wayne, Frankfort, Greenfield, Greensburg, Kokomo, Madison, Muncie, Richmond, Rochester, Salem, Seymour, South Bend, Terre Haute, Washington and West Lafayette. For the complete study or details on implementation recommendations, visit or call: The members of the Indiana Association of Cities and Towns (IACT), along with our state s police, firefighters and business leaders, are taking the extraordinary step of asking the General Assembly to help reduce the burden of property taxes and provide other local options to fund municipal budgets. Hometown Matters is a bi-partisan strategy born of necessity.
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