Indiana Budget Surplus and Property Taxes
By: LaTonya Stephens
Updated: July 17, 2007
Could a billion dollar budget surplus spell money for those looking for property tax relief ?
Thats what some are asking.
According to official records - the state took in 474 million dollars more than than it spent this year.
This boosted the surplus to more than 1.2 billion dollars.
Governor Mitch Daniels has been looking at ways to give taxpayers relief.
But Indiana State Representative Dennis Avery says - it probably wont happen with this surplus.
He says a few years ago the state had 2 billion dollars in surplus but there was a small recession after it gave out tax relief.
Representative Avery says millions of that surplus are also earmarked for a number of obligations and state debt.
Leaving the state with an actual surplus of only about 250 million dollars.
Making the probability of residents receiving some of the surplus even less likely.
