JEFFERSONVILLE — CAPS on property taxes? Sounds good, but is a CAP of any set percentage on property taxes good for the schools, counties or state? Is the reason for the CAPS really warranted? What is driving the CAPS amendment? Is it anger of programs people do not like? Are the reasons for a property tax CAPS because they, the property taxes, currently higher compared to other years?
When we look at property taxes from the 1960s through the ’90s, do we take into account the income of those years vs. property taxes? Do we look at demands on various government entities of yesteryear compared to today? Do we take into account inflation of the previous decades compared to today? Will the amendment on property taxes be as fair to home owners as businesses, or will the amendment give away the moon to businesses, as Propisition 13 did in California? Could it be there is very little difference in the percentage of income versus taxes of past decades?
Could it be we are spending more of our income, not on necessities, but on the new innovations for households and play that daily confront us through ads? Could it be our expendable income today is actuallly smaller compared to the property taxes today?
Maybe, the percentage of expendable income is actually comparatively larger. Has anyone actually done the math on the expendable income and taxes of the past compared to today, and factored in inflation? Are we really better off today, or worse, on property taxes? Without seeing the math, could it be this truly important issue is more fear-driven than actuality?
Indiana has always had higher property taxes than Kentucky. At the same time, our schools, businesses and manufacturing industries have always been way ahead of Kentucky’s. So, let’s look closely at who benefits, who loses in the math of current expendable income and the percentage of that income spent on property taxes, now and in the past.
Let’s not let fear rule our decision-making.
— Steven Fetter, Jeffersonville
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