How Well do You Understand Property Taxes?

Property taxes seem to plague everyone - but how well do you actually understand how property taxes work? A new poll shows property taxes are on Hoosiers minds - but they may not know where their money is going. A large percentage of homeowners in Indiana are facing higher property taxes. Its a hassle not only for residents, but many government officials. A poll released today shows property taxes are the most pressing issue for registered voters. The cost of living is going up, at least for your property. The price of owning a home increased about 14 percent this year. That amount put property taxes number one on the list of concerns for voters in indiana- "The increase is on everyones mind," says Steve Schaefer with the Southwest Indiana Chamber of Commerce. Thats according to a poll released by the Indiana Chamber of Commerce. The chamber does this poll every year. They say never has an issue been so dominate as property taxes. They questioned 800 registered voters in Indiana. 56 percent say the states property tax situation is in crisis. 35 percent say taxes and budget are their number one issue. But that doesnt mean they understand it. "They were okay with the current system but they didnt like it based on market value." They also didnt understand where the money goes. Twenty percent of voters think it goes to the state when only one percent heads to Indianapolis. "Even though we dont like paying them they fund our local government. Schaefer says there is good news from this survey. "The most encouraging part was the part of 76 percent prefer statewide overhaul of governments." Which could mean - thanks to the taxes on houses - more Hoosier will get invovled in elections and government. Everyone is still wondering when relief from these property taxes will come. Governor Daniels is expected to announce a consitutional amendment any day now. The amendment could relieve some property tax issues.