By Michael Griffin in the Northwest Indiana Times:
The most imaginative, the most commendable policymaking often begins with: "What if?"
Mindful that this news is not welcomed by all, Lake County's new income taxes are with us.
The Indiana Department of Local Government Finance in August certified that in fiscal year 2014, the income tax likely will generate $97,327,896 in property tax relief — which, if in place today, would lower the county property tax rate by 78 percent. The effect on cities and towns in some cases could be a reduction of 16 percent to 18 percent.
In addition, the DLGF certifies the public safety income tax and the economic development tax will each yield $24,331,974 to be distributed among the 19 cities and towns and the county itself.
For many but not all local governments, the dearth of resources endured in recent years is curtailed. This money is to be allocated and distributed monthly beginning in January.
For the county and all local governments, this money represents real, new resources to support services both necessary and desired as defined by residents served in the several cities and towns plus the county.
So, what if, before the money actually arrives, government officials arranged an intergovernmental compact in which the 19 cities and towns set aside 10 percent and the county 15 percent of their economic development income tax money to supply a regional needs fund? The fund would be committed to public projects best undertaken cooperatively and regionally.
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http://www.nwitimes.com/news/opinion/columnists/guest-commentary/editorial-advisory-board-income-tax-could-help-fund-regional-needs/article_bd5f6ba3-40b5-5d9f-8837-d7422cc67a78.html
