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Property tax rates in Indiana are capped a maximum of 1% of value for residential, 2% of value for rental and farmland, and 3% of value for all other types (the actual rates may be higher, but the maximum paid after deductions is capped through a "circuit breaker" tax credit). [8] The property taxes are assessed ad valorem.
This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
Duties of the board include adopting the annual budget, serving as a board of finance and approving township contracts. In January of each year, the trustee presents to the board an annual report showing the receipts, expenditures, investments and debts of the township. The approved report is then published in local papers for public inspection.
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If you still have questions about Real ID or how to obtain one, you can use the Indiana BMV's interactive document guide online or contact the BMV service line at (888) 692-6841.
The Indiana Economic Development Corporation (IEDC) was founded in 2005 and is charged with growing the state economy, driving economic development, helping businesses launch, grow and locate in the state. Led by Secretary of Commerce Bradley B. Chambers and governed by a 14-member board chaired by Governor Eric J. Holcomb, the IEDC is ...