Property Tax Sticker Shock
By: Andy Schroeder
Updated: April 13, 2007
Vanderburgh County homeowners got their first look at their 2006 property tax bills Friday.
Phones in the office started ringing early this morning, and lines were still ringing late this afternoon with callers dialing in to find out just how much they owe.
Property owners have been concerned for months about the spike in bills after receiving property reassessments in the mail earlier this year.
The search for a more equitable way of assessing property tax gave rise to the current system known as trending, where similar properties should have similar assessed values.
About 90% of Vanderburgh County home owners saw an increase in the value of their property, but most townships are actually being taxed at a lower tax rate this year.
Still, the discrepancy doesnt mean lower bills, especially since Indianas shift away from charging businesses an inventory tax. That move means property owners shoulder more of the cost of funding government.
If there is any good news coming out of this years frustrating property tax changes its that the spikes are expected to level out for next year.
If you dont have the money to pay your full tax bill by may 10th Treasurer Z Tuley says pay what you can because you will be charged interest on whatever you dont pay.
