Tax revenues rise in most Ind. counties
Tax revenues have jumped in all but two of Indiana’s 89 counties. The Indianapolis Star headlines its story, “Increased tax revenues boost ’06 county budgets“
Cash-strapped local governments across the state will get a financial boost next year from their county income taxes worth $177 million, Gov. Mitch Daniels announced Tuesday.
All but two of the 89 counties in the state that have income taxes will see an increase, which amounts statewide to 18.8 percent in additional money.
The reasons for the increase? Hoosiers made more money in 2004, the Department of Revenue processed their tax returns prior to the end of the fiscal year on June 30, and several counties raised their tax rates.
The article goes on to note that Hoosiers earned 7.5 percent more in 2004 than in 2003. Moreover, “the Department of Revenue hustled, with its employees working nights and weekends, to deal with a backlog of 249,000 tax returns.” Finally, nine counties increased their income tax rates. The Evansville Courier & Press reports, “Rise in county tax take a boon for budget planners” and the Journal Gazette contains an article headlined, “Income rise boosts counties’ tax coffers.”
