HomeMy Public PortalAboutResolution 01-2014-1 V c
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RESOLUTION NO. 2014-1
A Resolution Opposing Legislation to Reduce C
or Eliminate the Business Personal Property Tax
WHEREAS, Governor Mike Pence has proposed eliminating the Business Personal Property Tax as the
top priority of his 2014 legislative agenda and initial discussion to that end has begun in the General
Assembly; and
WHEREAS, Business Personal Property Tax collections statewide in 2012 totaled over$1 billion; and
WHEREAS, Business Personal Property(2012 pay 2013) made up 21.8%of our total AV for the City of
Greencastle and represents a loss of$679,499 in revenue and for the Greencastle Schools (Business
Personal Property is 22.9%of AV)this would be a loss of$1,357,828.
WHEREAS,there is no systemic surplus in our current state tax system evidenced by the fact that state
tax collections are currently falling behind estimates,causing the state to implement a series of
spending cuts to levels below what was budgeted; and
WHEREAS, businesses which are currently"capped out" on their property taxes would see no reduction
in their tax payments from the reduction or elimination of the Business Personal Property Tax; and
WHEREAS,the proposed plans to reduce the Business Personal Property Tax would inevitably result in
an across-the-board hike in real property tax rates, representing yet another transfer for the tax burden
from businesses to individuals and disproportionately affecting homeowners in communities like
Greencastle where the typical residential taxpayer isn't "capped out".
NOW,THEREFORE, LET IT BE RESOLVED AS FOLLOWS:
That a policy position is clearly stated by the Common Council of the City of Greencastle that
the Indiana Legislature should not pass any legislation that could reduce or eliminate the
Business Personal Property Tax.
PASSED AND RESOLVED by the Common Council of the City of Greencastle, Indiana this 14th day of
January, 201
Cot V, ;YY-0 -e%'\,,
Adam Cohen Mark Hammer
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S. Bingham Terry Sari h
�` Phyll' Rokicki
Approved and signed by me this 14th day of January, 2014 at TA7s-?o'clock p.m.
Susan V. Murray, Mayor
ATTES •
L nda Dunbar, Clerk-Treasurer