Auditor Says Tax Bills Will Be Delayed
July 28, 2016 at 4:25 p.m.
It's official.
Tax bills in Kosciusko County will be delayed for 2004, Kosciusko County Auditor Sue Ann Mitchell announced Thursday at the Kosciusko County Council meeting.
Property tax bills in Kosciusko will not be due on May 10, the traditional due date for property tax in Indiana. The delay is due because of the 2003 tax billing delay.
Part of the delay, she said Thursday, was because of the many tax appeals.
Mitchell said she received the assessed values for 2003 payable 2004 from the county assessor in mid March. The auditor's office posted the exemptions, verified the duplicate homestead credits and established Tax Increment Financing information before forwarding the certified assessed values to the Indiana Department of Local Government Finance. These figures must be submitted to the Department of Local Government Finance for tax rates to be set.
Mitchell said she hopes that tax rates will be set in June with a July tax collection date. She guessed the date for tax distribution to local taxing entities is in August if there are no surprise delays. Taxing entities will not know their actual 2004 approved budgets until the Department of Local Government Finance sends the final rates.
Fall tax bills should be back on schedule with a Nov. 10 due date.
Assessed values for 2004 payable 2005 are due in the auditor's office from the assessor July 1. Taxing entities must use those certified assessed values to prepare their 2005 budget.
She also provided the county council with the county's general financial information.
The current county general fund balance is $3.9 million. Payroll is approximately $260,000 biweekly. The County Option Income Tax received per month is $266,000.
Mitchell said there are many appeals yet to be paid out. Now that the work on certified assessed values is finished, appeals again will become a priority.
Anticipated tax collections is $5.5 million.
The county council Thursday approved the COIT and Economic Development Income Tax rates for 2004 to be $0.007 for COIT $0.003 respectively.
The EDIT balance for Kosciusko County currently is $2.9 million with $2.1 million to be collected yearly. Bond payment is $1.9 million.
Capital cumulative development fund balance is $4.5 million with $795,000 to be collected yearly at $0.0168 as of the 2002 pay 2003 rate.
The reassessment balance is $2 million with $370,000 to be collected yearly, with a rate of $0.0078.
The cumulative bridge balance is $3.4 million with $544,000 to be collected yearly, a $0.0115 rate.
And the cumulative jail balance is $341,000, with $156,314 to be collected yearly, at the 2002 pay 2003 rate of $0.0033.
Mitchell told the council that while the amount of money the county has in its balance is lower than in previous years, Kosciusko County is still able to keep its head above water, unlike some other counties. However, she said the state is estimating a continuing decrease in the amount of increase the county can collect over the next several years. [[In-content Ad]]
Latest News
E-Editions
It's official.
Tax bills in Kosciusko County will be delayed for 2004, Kosciusko County Auditor Sue Ann Mitchell announced Thursday at the Kosciusko County Council meeting.
Property tax bills in Kosciusko will not be due on May 10, the traditional due date for property tax in Indiana. The delay is due because of the 2003 tax billing delay.
Part of the delay, she said Thursday, was because of the many tax appeals.
Mitchell said she received the assessed values for 2003 payable 2004 from the county assessor in mid March. The auditor's office posted the exemptions, verified the duplicate homestead credits and established Tax Increment Financing information before forwarding the certified assessed values to the Indiana Department of Local Government Finance. These figures must be submitted to the Department of Local Government Finance for tax rates to be set.
Mitchell said she hopes that tax rates will be set in June with a July tax collection date. She guessed the date for tax distribution to local taxing entities is in August if there are no surprise delays. Taxing entities will not know their actual 2004 approved budgets until the Department of Local Government Finance sends the final rates.
Fall tax bills should be back on schedule with a Nov. 10 due date.
Assessed values for 2004 payable 2005 are due in the auditor's office from the assessor July 1. Taxing entities must use those certified assessed values to prepare their 2005 budget.
She also provided the county council with the county's general financial information.
The current county general fund balance is $3.9 million. Payroll is approximately $260,000 biweekly. The County Option Income Tax received per month is $266,000.
Mitchell said there are many appeals yet to be paid out. Now that the work on certified assessed values is finished, appeals again will become a priority.
Anticipated tax collections is $5.5 million.
The county council Thursday approved the COIT and Economic Development Income Tax rates for 2004 to be $0.007 for COIT $0.003 respectively.
The EDIT balance for Kosciusko County currently is $2.9 million with $2.1 million to be collected yearly. Bond payment is $1.9 million.
Capital cumulative development fund balance is $4.5 million with $795,000 to be collected yearly at $0.0168 as of the 2002 pay 2003 rate.
The reassessment balance is $2 million with $370,000 to be collected yearly, with a rate of $0.0078.
The cumulative bridge balance is $3.4 million with $544,000 to be collected yearly, a $0.0115 rate.
And the cumulative jail balance is $341,000, with $156,314 to be collected yearly, at the 2002 pay 2003 rate of $0.0033.
Mitchell told the council that while the amount of money the county has in its balance is lower than in previous years, Kosciusko County is still able to keep its head above water, unlike some other counties. However, she said the state is estimating a continuing decrease in the amount of increase the county can collect over the next several years. [[In-content Ad]]