INDIANA: Gary Wins Reprieve

Shields, Yvette
May 2009
Bond Buyer;5/27/2009, Vol. 368 Issue 33121, p7
Trade Publication
The article reports on the success of the struggling city of Gary, Indiana to win a partial reprieve from state-imposed property tax capitals. The rule allows the city's property taxes to be covered at 1.5% of home's assessed value and 3.5% for business properties, then 1% and 3%, respectively in 2010. The city projects that it would lose about half of its property tax collections due to the new capitals.


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