INDIANAPOLIS (AP) - New estimates show that Indiana's limits on
property tax bills will have less of an impact on taxpayers and local governments than previously thought.
The Legislative Services Agency estimated last March that caps
on property tax bills could reduce revenue to local governments by about $524 million in 2010, when the caps will be fully implemented. The new estimates show an impact of about $403 million, or $121 million less than previously thought.
That's good news for some local governments that feared being
hit hard by the caps, but it also means that savings to taxpayers aren't as great as previously estimated.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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