Comments on Advance Indiana™: Property Values In Indy's TIF Districts Plummet More Than 30%

The short answer, Chris, is that the TIF law has b...

2012-08-31T17:27:29.672-05:00

The short answer, Chris, is that the TIF law has been bastardized. In theory, the property tax base is established as a floor upon which property taxes are assessed and allocated to the various taxing districts. The TIF district is suppose to get only the incremental increase in assessed value attributable to redevelopment and development that occurs after the creation of the TIF. What is happening is that the TIF is the one being guaranteed a minimum flow of tax dollars and subtractions are made from the base to ensure that the TIF is held harmless. The base of the TIFs has eroded to the point where many of them no longer have a base upon which taxes are levied and paid to the other taxing districts. As a consequence, in those TIF districts, all of the property taxes levied and collected are going to the TIF alone, leaving the other taxing districts with nothing.

Could you help me understand a point about TIFs? ...

2012-08-31T11:08:33.835-05:00

Could you help me understand a point about TIFs?

I thought that TIFs were only able to capture revenues that exceed the base assessed value.

Your statement "Taxes paid on property located within these TIF districts are paid entirely to benefit the TIF district." indicates that it is your understanding that the TIF will always get money - how is it that the TIF would get paid before other services?

There is a deliberate effort being undertaken in I...

2012-08-31T07:17:03.748-05:00

There is a deliberate effort being undertaken in Indianapolis to starve taxing units of funds they desparately need to operate and then blame tax caps and declining property values for the problem so they can force a choice between a huge tax increase or deep budget cuts. What needs to happen is for the state of Indiana to step in and do what California did and suspend the TIF law, effectively putting them out of business except for paying off debt already incurred. The local politicians have proven that they simply cannot be trusted to use the law responsibly to promote economic development without playing Russian roulette with our local finances. For the administration and the council to even consider expanding TIF districts in the face of these numbers demonstrates that they are either mentally insane or fiscally irresponsible beyond reproach.

Sea Biscuit can only carry so much passenger.

2012-08-31T06:45:32.464-05:00

Sea Biscuit can only carry so much passenger.

Mayor, what do you have to say about this? You a...

2012-08-30T23:11:59.383-05:00

Mayor, what do you have to say about this?

You are accountable to US, the TAXPAYERS.