Former mayor says income tax hike very likely
INDIANAPOLIS (WISH) — An Indiana University professor and former mayor on Friday said most local governments would have very little money to spare if lawmakers approved a property tax overhaul.
Paul Helmke is the director of the Civic Leaders Center at the IU O’Neill School of Public and Environmental Affairs. He served three terms as the mayor of Fort Wayne from 1988 to 2000. Helmke said property tax revenue is crucial for local functions such as emergency services and street repair, in addition to funding schools. Unlike income taxes, he said property tax revenue is entirely local. The state doesn’t receive any.
Indiana homeowners have endured a massive spike in assessed values since 2021. Property taxes became the top issue in the 2024 gubernatorial election and Gov. Mike Braun has campaigned for a property tax cut ever since he took office. His tax plan has gone through a total of four iterations at the Statehouse to date. At a rally in support of Braun’s proposal last month, homeowners told News 8 their bills have risen by thousands of dollars, in some cases…