I think we should be taking a hard look at how muc...

2009-08-14T07:32:24.486-05:00

I think we should be taking a hard look at how much debt is allowed to be floated in this County. When all the Schools and CIBs and the City slow down on the debt accumulation, it frees up more money in the budget for other things. I think the City is expecting to spend about $166M in 2010, just to make bond payments. And the schools are out of control completely. Look at the CIB - haven't paid off the Hoosier Dome yet - not a penny of it.

In addition, when the governmental units use property tax revenues to guarantee repayment of bonds, it is your house and mine that are being used as collateral.

No, the problem isn't that the City or the Schools can no longer tax us property owners into poverty. The problem is their rampant borrowing. Tamp that down and the bond rating will climb again. And, we'd get more bang for the bucks we pay in taxes to boot.

I see. So to recap the entire property tax revolt...

2009-08-13T23:56:14.624-05:00

I see. So to recap the entire property tax revolt, what we got in exchange was higher sales taxes and increased interest rates on debt that we'll have to pay with future taxes? Great idea everybody! Sorry, but I can't shake this feeling that the only reason property taxes cause such a stir is that we all had to write checks in a big lump sum. At the end of the day, we'll still pay, I assure you.

Comments on Advance Indiana™: Indianapolis Bond Bank Rating Downgraded

I think we should be taking a hard look at how muc...

I see. So to recap the entire property tax revolt...