Indiana Gov. Mike Pence has proposed a $1 billion change in local finances: elimination of the tax on personal property. The intent is to reduce the tax burden on business investment and encourage firms to locate and expand in Indiana.
The problem is the resulting tax shift to other taxpayers, including homeowners, and the loss of revenue for local government services. Purdue professor of agricultural economics Larry DeBoer will discuss this issue Friday at a free workshop sponsored by the Purdue Extension.
DeBoer will cover the research on the effect of taxes and public services on economic development, the reasons for tax shifts to other taxpayers, the size and locations of revenue losses, and some of the alternate proposals for partial reductions of personal property taxes that are being considered by the Indiana General Assembly.
All individuals involved in county and local government budgeting (county councils and commissioners, mayors and city councils, town boards, school boards, library boards, townships, etc.) are invited to view it via video streaming from 11 a.m. to 1 p.m. Friday. Register to receive the link.
To register, go to the Local Government website at www.extension.purdue.edu/ecd/local, select Local Government Finance & Budgeting page and then click the register link. Please register by noon Wednesday.