Examining Business Personal Property Tax Elimination
by Sammy Edmonds
posted Feb 26 2014 10:42AM
As state lawmakers are considering ways to phase out the state’s business personal property tax, local leaders say it’s a risky proposal. During his campaign for Governor, Mike Pence talked about luring more business to Indiana by eliminating business taxes. But Mayor Tom Henry of Fort Wayne says taxes are rarely the only factor in attracting investment in the state. Mayors and other local government advocates stand against the proposed cuts to the tax, which now generates about $1 billion for cities, towns, counties and schools.
A senate committee is considering an alternative that would give counties the power to determine whether or not to impose business taxes.