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Committee advances income-tax rate realignment to shift property-tax relief to public safety
Summary
The committee approved Proposal 274 to reallocate portions of the local income-tax structure, moving the property-tax relief rate into the public safety rate and winding down the levy-freeze stabilization fund as required by recent state legislation (Senate Bill 1). The presenter said the 2.02% top rate paid by residents will not change; the shift,
The Administration & Finance Committee on the Indianapolis City-County Council voted to advance a rate-change plan for the county’s local income tax that shifts the existing property-tax relief rate into the public-safety income-tax bucket and reduces the levy-freeze stabilization allocation as the state phases out those mechanisms.
Controller Abby (last name not specified in the committee record) told the committee the change does not alter the 2.02% income-tax rate residents pay. Instead, the proposal — introduced as Proposal 274 — changes how the Local Income Tax Council allocates revenue among sub-buckets and local units. “The rate paid by citizens… will not change,” she emphasized as she walked the committee through charts showing the shifts.
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