Not that long ago it was written that Indiana property taxes could increase 15 percent in 2007 and could double in 10 years. If the property tax system is not abolished and everything stays on its present course, a couple age 45, for example, paying $250 a month in property taxes on a $150,000 home (which is typical for Indiana) could see that bill rise to $500 a month at age 55 and $1,000 a month at age 65.
You hit retirement age, your home mortgage is paid off but your tax bill is $12,000 a year.
A 1 percent hike in the state income tax and a 2 percent sales tax increase are being touted as “replacement revenue” if property taxes sunset. Gov. Mitch Daniels is reportedly “open to the possibility” of nixing property taxes.
Illinois is even more guilty of abusing taxpayers. So, if you like me are retired, where are you going to get the money from to pay these exorbitant taxes. St. Clair County Mafia must be stopped. Let’s get this tax off our backs. They are stealing our property.
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Richard L. Shelton