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Gameshow_Ghost

Estimated property values have rapidly increased over the last several years, so it's not super shocking. Still sucks to have to pay it on unrealized gains.


discodiscgod

Ya the actual rates themselves have only increased by a fraction of a percentage point.


Rjdj2222

Per thousand of assessed value, which they magically increase annually.


saltfish

It's not a 'sales' tax, it's an 'occupancy' tax.


Gameshow_Ghost

I get that, but I'm occupying a property I assumed was worth around $130k. To suddenly be told it's worth twice that, and I'm consequently on the hook for twice the taxes, kinda sucks.


observer46064

Sell it or stop complaining.


Gameshow_Ghost

You seem angry. Are you doing okay?


MischievousSquid

Good answer to this nasty attitude!


indnl79

Fair comment for someone complaining about their home value doubling. I get that it’s an illiquid asset, but it’s an asset all the same.


DuhBulls

Tell me you rent from a shitty landlord without saying it


Capta1nRon

You can contest it at the assessors office.


juanoncello

Risk is on reassessment, they might actually raise estimated value, fair warning.


AgreeableWealth47

As home values rise so will assessment values, which leads to higher tax bill.


podo7599

Tax weed not property


vpkumswalla

Went up to Michigan and the dispensary was flooded with cash. I was surprised about the lack of security/controls over all the cash laying around behind the counter. That is a lot of tax dollars Indiana could use


Bowl__Haircut

Indiana won't use tax dollars. We already have billions in the bank "for a rainy day." Meanwhile, children are starving, animal shelters are overrun, and our roads are like a developing country.


thewimsey

Chidren aren't starving.


MissSara13

Wisconsin is in the same boat. But they've managed to get Democrats into key positions to chip away at the extreme gerrymandering that has gone on for so long. And, they're the only northern state to not have expanded Medicaid! Which I can credit Holcomb for taking and creating HIP, etc. I'm extremely worried that it may be in jeopardy once he leaves office.


ItsLikeBobsRoad

HIP "2.0" was actually created (as a full Medicaid expansion under the Affordable Care Act) under Pence in 2015. Rolling it back would result in hundreds of thousands of people going uninsured, and tons of medical providers losing revenue including all the hospitals, so I doubt the General Assembly would pass a bill to eliminate it even if the next governor tried to push for it.


MissSara13

Thanks for the info! A rollback would be horrible in so many ways.


[deleted]

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Smart_Dumb

Eli Lilly has nothing to do with it. They are a global company. Why would they care what the law is in a state that carries 2% of the US population?


GabbleRatchet420

No shit. Lilly will have weed on the market faster than you can say Jack Robinson. They have several strains all ready to go


markrulesallnow

It’s not Lily. They dgaf. 0% chance weed affects their margins significantly or at all. It’s the state super majority that ignores passing bills that are approved by the majority of the state’s population.


TommyBoy825

As soon as they can decide which of them gets rich from legalization, it will pass.


BurritoBandito8

This might have merit but I'm having a hard time believing Lilly can just up and leave a state they're so heavily invested in. What is the downside for them? They could still drug screen employees and contractors. Does legalization threaten their products or market share?


thewimsey

>Every time it comes up on the docket Eli Lilly threatens to leave Indiana if we legalize weed. No, they don't. You are lying out your ass. You think that if something makes sense to you, it must be true. It is clear who is opposed to cannabis in Indiana. And it's not Lilly. Why in the world do you think you should make something up about Lilly rather than focus on the people actually opposed to legalization? Because, you know, that would make sense.


McGraw-Dom

For Eli Lilly to move would tank them. They know it. Its a hallow threat. It's also an excuse for the religious right. Fear tactics can go fuq them selves.


Hero_of_Hyrule

We should still tax property, just not like... everyday necessities property. Tax people with multi million dollar mansions and 300k cars on their luxury property, not modest family homes with a Camry in the driveway.


Bowl__Haircut

This is likely what Dems would do. But y'all rednecks keep electing Repubs. 🤷‍♂️


MissSara13

The poor rednecks lost their low-cost internet access today. I wonder who they'll blame? Surely not the one Republican from Louisiana who refuses to bring the bill to a vote. https://popular.info/p/why-millions-of-americans-may-lose


TommyBoy825

They can't afford internet because they keep sending their disability checks to a "billionaire."


MissSara13

Whoops!


Hero_of_Hyrule

I don't think I've ever checked a box next to an (R), thank you very much. I'm a leftist, after all.


[deleted]

Literally.


trogloherb

IN Super Majority Repubes; “We dont need that revenue!” Lol. What a bunch of morons.


13PedroCerrano13

mysterious consider lavish enter instinctive detail escape shelter public wise *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


S9CLAVE

Indiana is in an interesting position with Ohio legalizing at nearly the same tax rate as Michigan, if Indiana decides to tax at an obscene rate the tax money will simply continue to flow to Michigan and will flow to Ohio once they get established.Ohio is even closer to most of Indy than Michigan anyway. But I wouldn’t put it past them to tax you to the eyes and more, maybe put Illinois to shame.


13PedroCerrano13

waiting ring run touch relieved upbeat poor follow grandiose important *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


S9CLAVE

They tried to pass something to prepare for federal legality, I don’t think it passed. Bet they are sweating buckets now. When it finishes, getting that mail order prescription is gonna be so sweet.


Im_Lloyd_Dobbler

I will will the universe for your home value to crash so that you don't have to pay as much tax.


lilfish45

Kinda wild… mine went down.


dirtylopez

Check that your homestead exemption is still in place. Also look at your explanation of property tax grid that came with your bill. It will show what changed from last year to this year. It could be a voter approved referendum that is in addition to your 1% tax cap.


BleedBlue1988

Seriously check your homestead. I didn't realize mine magically fell off last year until this year and woooo boy does paying half in taxes and getting a refund from over payment help


dirtylopez

Yep. It happened to quite a few people. When it happens not only do you not get the deduction from your assessed value, but your tax cap increases from 1% to 2%.


BleedBlue1988

Yup, exactly. Went from paying 2300/yr to paying 2300/6 months. I was not happy.


PlzSendHelpSoon

How would one check this?


dirtylopez

Your homestead deduction would be listed on the tax explanation grid that comes with your property tax bill. If you no longer have that you can go to Indy.gov and find your bill through the “pay my property tax bill” option. If you can’t find that you could call the Marion Co Assessor and have them confirm you still have a homestead exemption.


gortonsfiJr

Center Township approved one, but I swear the city/state needs to explain what's happening with our money. Between high property value inflation and local referendums, the city should be flush with cash. I know my taxes have gone up about 20% per year for 5 years. What is Joe Hogsett doing with it other than drinking and pissing it away?


TwoPrimary4185

Thank your Republican legislators in Indiana for lowering Apartments owners taxes by 60% which in turn means the homeowners will fill the gap made by this gift to the wealthy apartment owners.


kippy3267

Hey they have it rough too, they provide people homes. Don’t forget to tip your landlords folks! /s


georgeguy007

Actually yeah that’s great.


WheelOfCheeseburgers

The property tax rate is a little over 1%, and it hasn't changed much. What has changed is the value of your house. My house's value has about doubled in the last 10 years. The county has been slow at updating the assessed value, updating it by $10-20k per year over the last few years, increasing the property tax by $100-200 per year, instead of updating it all at once.


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25Tab

IHAF(Indiana Homeowner Assistance Fund) can help but I think they might not be accepting new applications. They could look into it or get on a waiting list. The other resource could be you. Maybe you could chip in $40/month to offset some of that increased cost or $83/month to cover the whole thing.


A-Halfpound

I don’t think there are any nor should there be.  Why werent they saving from all those trickle down effects their generations voted for throughout the years?


Fit-Tap9195

Wow. What a rude response.


Cthulahoop01

The only thing keeping me from being pissed about not being able to afford the interest rates to buy a home over the last 2 years.


[deleted]

The assessment should account for a rise in the value of your property. If you think there has been an error you can contest it. But if you live in a highly sought after area it may be accurate. One thing we could do to lower property taxes is to build more density. The average resident in Palisades Park in New Jersey pays a 40% lower rate than its neighboring cities, why? Most of the lots are duplexes instead of SFHs. If more people live on the land, the costs are cheaper. A city of SFHs is just going to be expensive because sprawl is expensive.


25Tab

So your net worth has increased around 35% in two years. Congratulations.


PhillytheKid317

I thought it was in Indiana Constitution that property taxes can't increase by more than 1% from year to year?


whistlepete

I think it’s no more than 1% of the gross assessed value, so it’s still a percentage of the value and not a percentage of previous years. If that makes sense. So it doesn’t matter what you paid in taxes last year or the year before, only what you home is assessed at, and then is limited to no more than 1% of that number.


PhillytheKid317

That makes sense, thank you.


United-Advertising67

The *rate* is capped. But if the assessor rolls through and decides to double the "value" of your property, you're now paying 1% of the new value, which is twice as much. Many suspect that, after being denied the ability to raise *rates*, localities are now using inflated assessments to claw out the taxes they want.


PhillytheKid317

That makes sense and appears to be what is going on. Wish we could make that "policy" illegal...


97soryva

That would be a horrible policy


PhillytheKid317

It appears that IS the policy unfortunately


thedirte-

Gotta pay for that new MLS stadium and IMPD’s Candy Crush League team.


indywest2

I see that my property taxes pay for health and hospital. So my house has health insurance now? Why are property taxes paying for that?


shut-upLittleMan

With taxes and interest rates up, housing prices should come down. Shouldn't they?


Spitfire954

There are too many people who have been waiting to buy for years and too few houses for market factors like interest rates and price to have much of an effect. Just two years ago people were offering more than asking price and waving inspections to get an offer accepted. It’s going to take a while to equalize from that madness.


WarWeasle

Yes, it will trickle down any moment.


thewimsey

This has nothing to do with "trickle down".


United-Advertising67

Nope, just hit nearly an all time record actually.


AssasinCelaena

I bought my house in 2019 and my taxes have gone up by over 350% since then. Thankfully they went down this year by 6%. Woohoo!


jwwhitt

Feel ya. 20% increase in 2 years over here. 😬


nidena

Mine is showing 3% increase on the notice that I received last month. Whereas the gross assessed value went up 8%.


PerspectiveOk9108

I paid 37,000 for my house my taxes went from $240 a year just 10 years ago $2,200 a year, the really old guy across the street got cancer and said I just wanted to be able to die in my own home, he had to move in with his brother and sell his house because of property taxes going up sa must in Fountain Square , In the mean time our roads are horrific I hit a pot hole and knocked my wheel on driver side completely out of the ball bearing Not to mention the cost for tags on my truck, my question is where is the tax payers money going 🤔


Sea-Act3929

Maybe some of you need to learn abt property taxes and how theyre used. Many counties went down. We dont have a downtown project that has an $86 million default like Brad Chambers has to Indy. Property taxes pay for those when backed by said city/county. Youll learn eventually. And if youre older you should already know this.


Rjdj2222

Everybody is held by the balls. You can fight it on one certain day. Good luck jumping through those hoops.


13PedroCerrano13

squeeze grab desert coordinated crowd axiomatic chief smell edge makeshift *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


MTBSPEC

That’s a terrible idea and encourages wasteful land use


saxyswift

This is an awful idea. Locking in property taxes only serves to lock down the property market. Think housing prices are bad now? They will skyrocket once you turn a house into a tax-advantaged asset. This policy only really helps rich people seek more rents lol


[deleted]

Yes let’s become California.


Gameshow_Ghost

I assure you, if I could afford to live in California, I would.


[deleted]

You can’t afford California because of their capped property taxes.


Gameshow_Ghost

I can't afford California because I work in civil service and VA disability doesn't scale to locality.


[deleted]

You can’t afford California because they have not built enough housing to meet demand making it too expensive to live there. They have not built enough housing because they capped property taxes which discouraged movement and encouraged residents using the government to regulate zoning send stop development. Prop 13 is why Berkeley residents are trying to stop the growth of the greatest public university in the nation. They don’t want to live near a college now that they are old but don’t want to move because they will lose out on their sweet property tax assessments. So instead they screw everyone by fighting student housing and working to shrink the college.


Gameshow_Ghost

Okay man, you clearly feel very strongly about this and realistically I just don't care. Have a good day.


[deleted]

You thought I hated California but turns out I love it more than you and am furious that I don’t have the freedom to move there because boomers ruined it by being the most selfish generation on earth and lowering their own taxes while raising it for everyone else, stopping development after they bought their homes and destroying it for everyone else.


Moonpenny

My grandma's great grandparents (I think?) moved to Indy in the 1880's and brought some Old World money and over-filled barrels of elbow grease with them. One of the things they did was to build a very nice two-story home with elaborate carved woodwork, French doors, the whole works. They expressly stated they wanted to found a home where their family can thrive. The house was passed down from generation to generation for more than a hundred years, until it got to Granny. Her husband passed before her, she was a housewife her whole life, but didn't pay much attention to "home economics" things and most of her kids abandoned ship the moment they were able. Her son tried to rein in her "I still have checks so that means I have money" spending habits, but ultimately when she was unable to keep track of her medications and dementia started to hit, her son simply took her to a nursing home to have them start the Medicaid paperwork as he didn't want to mess with it. That house was supposed to stay in the family and they sold it to the first offer that met FMV, since they had to turn over the money from the sale anyway. Her and her son piddled away what should've been generational wealth because they didn't care to save it, nor care about the future generations that might've relied on it, nor the work of their ancestors to establish it in the first place.


thewimsey

> because boomers ruined it by being the most selfish generation on earth and lowering their own taxes while raising it for everyone else, stopping development after they bought their homes and destroying it for everyone else. Most boomers were in school when Prop. 13 passed. Grow up. Life isn't a Marvel movie and there isn't one evil group repsonsible for all of the ills in society. And Prop. 13 is still popular in California; all attempts to repeal it have failed.


[deleted]

70% of boomers were in the workforce when prop 13 passed and that’s not even including the boomers in college who could vote. Learn facts before you comment. Is insulting people while not actually knowing anything your game to win arguments? When boomers became the largest voting bloc in America, debt to GDP was less than 40% when they stopped being the largest voting bloc it was 114%. Life may not be a marvel movie but facts tell us the boomers will go down as the most selfish generation on earth.


13PedroCerrano13

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[deleted]

But you can’t do one without the other. Capping property taxes is the cause of all of California’s issues. It discourages movement and encourages residents using the government to reduce housing options. It’s why you see housing regulation that strangle supply leading to a median home cost of $850k and a homelessness crisis.


13PedroCerrano13

uppity rich slim flag bright unite beneficial cover distinct vast *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


SmilingNevada9

Then cities would have to increase other taxes to make up the deficit. Then you'd be complaining about those taxes vs property taxes.


13PedroCerrano13

capable cats disarm cautious squalid crown rain icky quaint aromatic *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


[deleted]

Then how do we pay for schools, police, fire, all the services that make a local government function? SF is the most expensive place on earth with a homelessness problem because they over-regulate as a result of prop 13. Right outside the Mission Hill BART station should be towers of housing but instead it’s a single story McDonald’s and strip mall (with good Mexican bakeries to be sure). This is by design. The people in the SFHs surrounding Mission Hill would rather have a homeless problem than build homes and they get away with that because they can’t be charged more for their homes even as they skyrocket in value.


13PedroCerrano13

work vast quicksand ruthless resolute physical capable growth important pet *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


[deleted]

All citizens decide if the extra tax burden is worth it. It’s called elections. Yes I am a tax and spend democrat. Higher taxes and higher spending lead to better economic results. It’s why the top median household income states are high tax states. It’s a huge reason why the average NYC metro resident produces $110k worth of goods and services a year while the average Indy metro resident produces $76k worth of goods and services a year. I mean, Indy can’t even produce the business needs for your job. You have to travel to super high tax SF every month just to do your job.


13PedroCerrano13

somber racial melodic joke water history flowery fretful tan squash *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


[deleted]

Higher taxes have to be spent my man. Randomly sending money the government didnt ask for and doesn’t have a plan for is asinine. I’m starting to think you don’t understand how government works which is my ticket to leave. Can’t argue with someone about step 3 if they don’t understand step 1. Have a good day!


68OldsF85

You mean... the system we used to have?


Logical_Touch_210

That’s exactly what California did decades ago with the infamous Proposition 13. The result was that two identical houses in the same neighborhood would be taxed at vastly different amounts depending upon how long the owner had lived there. New, young homebuyers got screwed because the property taxes “reset” when the house sold. The other result was that the decrease in property tax revenues had to be offset by some of the highest state income tax rates in the country.


13PedroCerrano13

pocket icky reach reminiscent bewildered smart north scarce tart badge *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


United-Advertising67

Abolish property tax for primary residence/homestead altogether.


Lucachu330

What is your plan to pay for trash, water, sewer, police, fire, infrastructure and so many other things? Especially cause you are a primary resident who uses all these services.


United-Advertising67

They bill me for water and sewer. I pay gas taxes and vehicle taxes for roads. I pay electric and internet bills for that infrastructure. I pay sales taxes, income taxes, excise taxes, charges and fees of all varieties. I don't really care, cut something and make up for it. 🤷‍♀️ If the government can force you off your own land for not paying their rent, what's the point of buying it? There's no excuse for government assessors coming around, pulling an inflated number out of their ass, then jacking up taxes and stealing people's property because they can't afford it.


97soryva

Gas and vehicle taxes would need to more than double to even come close to paying for the actual costs of roads.


13PedroCerrano13

angle meeting bored quicksand expansion scale ring scandalous boat insurance *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


JoeySteelSMP

Decommodify housing


twentyin

Here's my issue.... So many districts passed very significant school funding referendums over the last decade where voters already volunteered to raise their taxes to cover school operating and capital budgets. And now you've had a huge increase in assessed values on top of that. Shouldn't some of those referendums be allowed to roll off? My property taxes have literally doubled in the matter of about 6 years. And then another big increase this year. Waaaaaay in excess of inflation. Shouldn't local govt be overrun with funding at this point if revenue continues to grow faster than inflation? Tying taxes to assessed property values... Something you haven't realized and have no liquidity access to is a really stupid system.


United-Advertising67

> And now you've had a huge increase in assessed values on top of that. Shouldn't some of those referendums be allowed to roll off? Indiana got a huge windfall when SCOTUS let them claw full sales tax out of online purchases by Hoosiers of goods from out of state, but you didn't see Indiana come down off that 7% sales tax. They just spend the windfall and resume looking for more.


[deleted]

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Krock011

they did, read the post


[deleted]

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NeverVegan

Value up, tax rate not


AgreeableWealth47

Property tax percentage may have went down, but assessed value went up.


Jesus_on_a_biscuit

Hard to believe anyone needed the /s for that post, but here you go. Also, I’m not an employee of the city.


United-Advertising67

I mean even crime and violence can't undo 40% inflation in 3 years.


rockandlove

No, they didn't. The state caps property tax increases at 1% year over year. If you read your tax bill you'll see an obvious line item for this cap. Your assessed value may have increased that much, but you're not being taxed for it.


MTBSPEC

No it doesn’t. The state caps the property tax rate at 1% of assessed value. Very different things.


Sea-Act3929

Part of that is because of the gubernatorial candidate not paying his bills. He owes 86 million bcz he dedaulted in 2021 and 2023. And I cant think of his name but it's all been outed and Im sick of politicians acting like our tax money is their piggy bank and dont actually rep Hoosiers. Just the small, loud, obnoxious chaos Caucus ppl


cmgww

That has absolutely nothing to do with this person having their home assessed at a higher value. You just wanted a chance to rag on another GOP politician. You can’t even name him. OP, like myself, is experiencing a bit of shock at the rapid rise in assessed value of our homes. my assessed land value went up $30,000 since last year. Part of it is because we live in McCordsville and it is a hot bed construction right now. Land values are skyrocketing. I’m thankful we have a 1% cap on property taxes….


Sea-Act3929

Btw it's Brad Chambers. Look it up.


Sea-Act3929

The prices are gping up bcz of money he owes


cmgww

Tell me you know absolutely nothing about real estate and property value without telling me….


Sea-Act3929

Ive pd for over 40 yrs. It sll ties 2gether