From the Shelbyville News:
The Shelbyville Common Council talked about a formal resolution opposing the elimination of personal property tax at its meeting Monday.
Governor Mike Pence and some state legislators have expressed a desire to eliminate the tax on equipment, and bills in the legislature are designed to gradually eliminate the tax. Mayor Tom DeBaun has expressed concern about how the communities would make up the money lost through the elimination of the tax, with losses of more than $1 billion statewide if it were completely eliminated.
The Indiana Legislature is seriously considering two bills concerning personal property tax. One, Senate Bill 1, calls for the elimination of the tax for businesses with equipment under $25,000. House Bill 1001 gives each county an option to eliminate the tax for new equipment.
The council agreed to take up the resolution at the next meeting.
"There's been well over a dozen communities who have put this through their councils," DeBaun said. "This is not a political commentary, fellas, this is what it takes to run a community."
The council also got a look at the "1782 notice," which outlines what the state is giving the city for its budget.
The city will respond to the state asking for a few changes. First, almost $18 million in personal property from Indiana Grand Casino was not added into the assessed value.
Also, the city will ask the state to reduce the $1.48 million Shelbyville Parks and Recreation budget by $383,000 and put $223,744 of that into the General Fund and use $159,256 in the city's operating budget.
"We need it in the general fund," DeBaun said.
The 1782 notice process goes from "bottom up," meaning funds such as the Parks Department are funded first and the General Fund gets what is left over. That means the General Fund is sometimes not fully funded.
http://www.shelbynews.com/articles/2014/02/05/news/doc52f1490b77de0237277623.txt
