From the Washington Times-Herald:
The Daviess County Redevelopment Commission is worriedly watching the short session of the Indiana General Assembly. During the commission’s organizational meeting attorney Grant Swartzentruber told the organization he is hearing that Indiana law makers are considering several changes to the way RDC’s operate.
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Local leaders say they believe the system is working and does not need major changes. “I really hope they don’t make a big change in the structure of RDC’s,” said Arnold. “What happens so often is the law of unintended consequences. They make a change to fix one small problem and it creates a whole new bunch of new problems.”
Another big concern is the proposal by Governor Mike Pence to eliminate the equipment tax on business. “That could have a huge impact on our TIF (Tax Increment Financing) districts,” said Arnold. “If they remove that we will have to have some kind of replacement revenue. I really hope that if they do away with that they put one new funding source in place that is state wide. I’m concerned that local communities could wind up in bidding wars.”
The impact of the elimination of the business personal property tax in Daviess County would total almost $4.9 million to all taxing units. For the TIF districts it would total around $11,700. “The thing to remember is that the hardest thing for government at all levels is change,” said Arnold. “If there are winners there are bound to be losers. The money has to come from somewhere.”
The change could have an impact on the county’s ability to finance improvements in the TIF zones in the future. “This money is about proving infrastructure for businesses to develop in the area,” said Arnold. “Those kinds of infrastructure improvements are usually good for the entire community.
http://www.washtimesherald.com/local/x12790889/County-RDC-keeping-wary-eye-on-legislature
