Monday, February 08, 2016

Study Shows TIFs Claiming $320 Million Annually

The politicians and their mouthpieces in the media want you to believe that schools in Indiana don't have enough money to operate because of Indiana's property tax cap law that limits the maximum percent of a property's value that can be taxed. A new study released by Ball State University shows that TIF districts statewide siphoned off about $320 million in property tax revenues annually from other taxing districts. Schools are impacted the hardest. Not surprisingly, Marion County takes top billing. Here's a rundown of how much municipalities in area counties siphon away from other taxing district to fund mayors' slush funds:

  • Marion County-$63.1 million
  • Hamilton County-$21.5 million
  • Hendricks County-$10.6 million
  • Madison County-$8.7 million
  • Johnson County-$5.8 million
  • Boone County-$2.3 million
  • Hancock County-$1.9 million
  • Shelby County-$1.8
  • Morgan County-$897,000
An interesting finding in the study produced by Michael Hicks was that consultants are getting paid about $30 million a year to encourage municipalities to exploit Indiana's TIF law. "Hicks said it could be a reason why TIF regulations haven’t improved. Those firms want TIF use to continue." "It’s a cash cow, and I get that," Hicks said.


Anonymous said...

Do you get it that it is a bullshit "study"? Do we confuse, for example, an abuse of TIF districts with those being properly utilized? Not every TIF district has Ballard's fingerprints on it or those of his corrupt cronies. When did "schools" gain entitlement to "extra" funds just because some investment landed in their impoundment area? Nothing in Indiana wastes more tax dollars than "schools". You need more police...Marion County knows for sure that increasing taxes is not the way to achieve such a goal...the taxes come but the police don't. Lying Joe will be no different that McBallard or the previous mayor who was endlessly mocked for his inability to tell the truth (wound up at Lilly....fitting).
Trusting journalists with numbers is always a mistake.

Anonymous said...

With Democrat and Republican crooks skimming funds for pet projects via TIF extortion, my decision to remain unregistered is vindicated. Votes are useless when we are force-fed candidates who more are political prostitutes than advocates for the overtaxed people.

Too damn bad the voters are so dumbed down they havent' a clue about the criminal syndicate we call "politics"... even when the facts are presented clearly and concisely. No wonder cities like Indianapolis are circling the drain. But hey, you can go rent a battery powered car... most likely parked right out in front of your home!

Dang, if that ain't proof we are a progressive bunch just like Noo Yawk City...

Anonymous said...

$63M a year in Marion county, That's it?

John Accetturo said...

They need to eliminate TIF in Indiana just like they did in California. Guys like Jim Brainard have use it to reward campaign donors. TIF has robbed schools of needed money. It is used by big government to get involved in picking winners and losers. Most politicians use TIF like organized crime uses extortion. Business love TIF because they legally get subsidies of 20% or more in their projects. Just ask Ersal Ozdemir what thinks of TIF.

Pete Boggs said...

It's called corruption / crony statism.

LamLawIndy said...

Well, Anon5:12,if the $63M were instead returned to the 240,000 homeowners in Marion County, that would save each $260 per year. I'd prefer that to pet building projects.

Anonymous said...

It's just 'small government' in action.

Anonymous said...

Gary, there seem to be reports every week about low property taxes straining local government. It seems counter intuitive this study by Dr Hicks gets funded, let alone mentioned by Indys media outlets. Any idea who funded his study??