Why should the budget keep growing requiring more and more taxes? Let's be clear our republican super majority has increased the budget and raised taxes. How about we gut the govt and the spending.So clearly the benefit of this is the locked tax rate forever. A couple of questions and points, if implemented citizens owning the same property could be paying vastly different taxes, the Indiana supreme court has already ruled this is not constitutional in Indiana. Would this be different?
So you have 5 acres you bought for $300,000 in 2014 and your locked tax is $3000 per year. Your son wants to buy a similar 5 acres nearby, for $600,000. Now 1% is no longer enough to cover the budget because the first property is only paying $3000 per year and would be paying $6000 based on market value. The taxes on the son’s property will need to be $12,000 to generate the revenue over time. Then in a few years a guy buying your place from you will be faced with a continuing rising spiral of property tax.
Unless we change things dramatically, not likely, government is going to get what they want, is this a fair distribution of burden for the goal of a locked tax rate forever?