TITLE

Indiana County, Hit By Steel Woes, Seeks Option, Development Taxes

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
March 2003
SOURCE
Bond Buyer;3/27/2003, Vol. 343 Issue 31802, p27
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Porter County, Indiana Council took advantage of state legislation that allows the creation of both a county option income tax and a county economic development tax to offset changes in the state tax structure in the fourth week of March 2003. Indiana also enacted the economic development income tax this year, as the state sought to offset its plan to phase out the inventory tax over the next seven years, said William Carmichael, the president of the Porter council. Since it will not get the money immediately, Porter County expects to issue tax anticipation warrants that pledge the state's first option income tax payment distribution. Adding to the economic hardships, the state changed the way it assesses property, causing counties across the state to expect late tax payments.
ACCESSION #
9440139

 

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