Lake County to be Reassessed to 1.5 for homeowners by 2009

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Great news for the state, but more importantly for Lake County.  If you were not aware when the first information came out about changes or reassessment of taxes it was stated that all but two counties were going to benefit from the changes.  You guess Lake County was not going to benefit, but at least we were not alone.  St Joseph county was also negatively effected by the first tax alternative.  Well, the realtor association did not take this seating down we rallied to get a great deal for the citizens of Lake County. 

Originally, we asked for 1% of the assessed value to be paid by the homeowner, 2% for the investor, and 3% for the business property owners.  As a result of this reduce in revenue to the local cities and towns in Lake and St. Joseph counties, the officials of these counties rallied as well resulting in the taxes remaining the same.  Once again, the realtors rallied and stated that the counties and cities will have to cut the fat on surrender the consequences of have a mass exit of cities that are bleeding their citizens dry.  We stated that if a homeowner can get lower taxes in Porter County then that is what they will do.  We will be happy, however, to sell them that home, but we feel that it will be to everyone’s best interest to address the issues that are causing the towns and cities to need all this money.  As a result of this, there was a compromise of 1.5% of the assessed value for the homeowner, 2.5 for the investor, and 3.5 for the business property owner to be phased in 2009.  In 2010, the citizens of Indiana will be able to vote to have the caps incorporated into the state’s constitution.  If the citizens vote for the caps, it will not take effect until January 1, 2012.

Originally posted 2008-12-01 08:13:48. Republished by Blog Post Promoter

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