How Did This Happen?
I received a copy of the property tax statement from the Hamilton County Treasurer, and found that my property taxes went down by about 12% from last year.
This is remarkable, because they went down 10% the year before. I am astonished. So, why?
One large item: A "Supplemental Deduction" item added to my table of deductions, roughly equal to my Homestead Deduction.
It's still quite a soup sandwich. The "State property tax relief" item went down by 90%, meaning, I liked that one a whole lot more last year... but it's hard not to like this "Supplemental Deduction". Here's an interesting breakdown on the distibution on my property tax money, by taxing authority, by percentage change:
School District: -54.06%
I guess that's a plug for eliminating Township Government. Everybody else seems to get that the economy is down, and therefore so should the spending be down.
Next year, the property tax caps will kick in for residential property at 1%. As my net liability was under 1% this year, I'm pretty happy with the progress there. It still isn't the elimination of property taxes, but it is movement in the right direction.
Now, I'll be interested to learn how others are affected. I still expect Marion County, and others, to feel it moving in the wrong direction.