From the Northwest Indiana Times:
Porter County Auditor Bob Wichlinski announced Thursday morning he intends to hold on to a portion of the nearly $6.1 million shortfall being returned to the county to fund a homestead credit that is a benefit of the economic development income tax.
The fate of the credit was initially in question when the state revealed the revenue shortfall last week. Wichlinski said he decided to pass along the credit, despite a requests for all the money from some local government officials, who are facing financial challenges as a result of the property tax caps and tax appeal refunds.
An additional $3 million is being set aside for the credit for 2011 and 2012, yet Wichlinski was unsure how much of an impact the money will have on individual tax bills.
The credit is not being passed along until next year because tax bills were already mailed out by the time the county received word of the state's error in distributing the revenue.
Wichlinski also revealed Thursday how much extra money the county, and various cities and towns will receive as a result of newly discovered revenue. The portions are based on population.
The county will receive the largest share of the money at $766,686 from 2011 through April of this year. The county then will receive an additional $62,990 for each of the remaining months of this year.
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Read more: http://www.nwitimes.com/news/local/porter/duneland/porter-county-taxpayers-to-benefit-from-state-revenue-error/article_e1660bc4-5108-570b-b7a2-b3665e492cb6.html#ixzz1rx4QTbVK
