THE CHECK IS IN THE MAIL, WELL SORT OF!
Your property tax rebate check is in the mail, but if you’re in Marion County you won’t get it until next year. The Department of Local Government and Finance has certified more than $300 million in tax rebate checks. Marion County taxpayers will get more than $51 million. Hamilton County will receive more than $14 million. Hendricks County will more than $5.6 million in rebates. Hancock County will get $2.8 million. Boone County will get slightly more than $2.4 million. Shelby County will get more than $1.4 million.
Don’t get too excited though and don’t spend it all in one place. Because Marion County is going through reassessments, the checks won’t arrive until after the new tax rates have been reconfigured. And to make matters worse, no one can figure out exactly how much the rebates will be. At best DLGF officials say you should take your 2007 tax bill, and add five to 10 percent to your homestead credit. That should give you a starting point to work with. And speaking of reassessments, I’m hearing some pretty grave news about them you’ll be lucky so much of any change in the Spring. Some people call it a reconciliation bill.
I call it a day of reckoning bill I call it a day of reckoning bill because the rebate isn’t expected to cover the amount of your tax increase. Consider yourself warned!.
