Thursday, February 19, 2009
Marion County Facing Financial Disaster Due To Another Property Tax Bill Delay
Marion County property taxpayers have still not made their final payment for last year's taxes, and Marion County Assessor Greg Bowes announces today that this year's payment for last year's taxes could be delayed by months, forcing local governments to once again take out short-term loans to pay the costs of government. In a sellers' market, interest costs could be higher than usual, which means fewer dollars to pay for already-budgeted expenses. Even worse, as more and more people lose their jobs in this deep economic recession, the likelihood of more property owners missing their payments this year will only increase. Bowes blames the reassessment, but I thought that was the excuse for the third payment for last year's taxes not being paid until this spring. This is just one more reason why Indianapolis leaders should not even be thinking about imposing new taxes on already stressed out taxpayers to finance the sports palaces with a $50 million bailout. Local governments are going to need every available dollar just to pay for basic services. If the CIB needs money, then the Irsays and Simons will just have to pony up. We're tapped out.