For the second consecutive year, property owners in Howard, Miami and Tipton counties will see a delay in receiving their spring property tax statements.
Although this will delay tax payments, Howard County Treasurer Martha Lake said Wednesday residential property owners will see a decline in their tax bills.
“Most homeowners will see a drop,” Lake said. “I thought the bills would remain about the same, but the lowered assessed valuation helped.”
Lake said most residential property owners didn’t hit the 1.5 percent cap on their property taxes this year as mandated by the legislature. Next year the residential property tax cap will be one percent.
She said many landlords will see a decline in property taxes on rental properties, because they did reach the 2.5 percent cap this year. She said property taxes on commercial and industrial property are increasing.
Lake explained in addition to the $45,000 Homestead Credit, residential property owners received 35 percent off their assessed valuation as a result of state action.
The hope is that property tax bills in Howard County will be mailed by May 29 with a proposed payment date of the week of June 12.
“The due date will be 20 days from the time the bills are mailed,” she said. “We have to provide 15 days by law. The schools are waiting for money, which was a factor in setting the due date.”
Tax statements are available online on the county Web site at www.co. howard.in.us. Property owners can made partial payments in person or by mail at the treasurer’s office, 120 N. Main St.
As a result of the property tax caps, Lake said new formulas had to be applied to assessments this year, which delayed mailing the tax bills.
In Miami County the Treasurer’s office said they hoped have a due date in late June. Last year the first property tax payment was due on Aug. 28.
The Tipton County Treasurer’s office said there is no specific date for the payment of the property taxes.
Linda L. Altherr, Tipton County Assessor, said May 15th is the deadline to file personal property tax returns to avoid penalties.
This is still a self assessment but if anyone who needs help filling out the forms can come to the office on the second floor of the Tipton County Courthouse, she said. A copy of the current federal depreciation schedule is necessary.
• Ken de la Bastide is the Kokomo Tribune enterprise editor. He can be reached at (765) 454 -8580 or via e-mail at ken.delabastide@ kokomotribune.com
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Property tax payments delayed
<b>Residential property owners should see payments drop</b>
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