We're curious. Did the commission crunch numbers to estimate the taxpayer dollars that will be saved by implementing their 27 recommended changes to local government? This would give us a starting point to begin to see property tax repeal as a definite reality.
How much are these extra layers of government actually costing the taxpayers in real dollars?
The number being tossed around is $6 billion to replace property tax revenue. It looks like from an early analysis of the CAFR (Comprehensive Annual Financial Report) that the state actually collected more than $7 billion in property tax in 2006, which means they took more money than what was actually needed to meet the current demand of running government as it sits now with all its layers.
We know that politicians do not want to let go of property tax because it is the ultimate collateral to guarantee the bonds; bonds of course being the municipal loans required to funnel money to architects, construction companies, and the water companies that sleep so cozy with our politicians.
Is it moral for our government to over-collect property tax and keep the money? And is it moral to for them to spend our money without our expressed consent?
It looks like the Governor's plan is getting a cold response from The People according the Courier Journal.
Let's start talking numbers and the big picture so Hoosiers can see transparency in what dollars are collected, how it is spent, and what will be saved by adopting the commissions 27 recommendations.
We appreciate the Governor's commission. We finally feel we're off to a good start.
Tuesday, December 11, 2007
Open Question for the Governor's Reform Commission
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6 comments:
Here are some basic facts on Indiana’s tax system and how it compares to other states:
http://www.taxfoundation.org/research/topic/27.html
A vindication for taxpayers and protestors who knew they were being victimized by a tyrannical system, but good question: where are the numbers that will be saved by this streamlining? Now that we have a born again skeleton, do we now need a bipartisan Economic panel to figure the savings. Where's the beef?
THanks for the tax foundation link. We're going to link them and promote the site via this blog.
Re-print:
Firstly; CAFR is an acronym for Comprehensive Annual Financial Report. It's a financial statement, about an inch thick, and written to confuse...
Someone at the State Auditor's Orifice made the mistake of giving me a copy of the Indiana State CAFR, today. It also has figures for the local CAFRs...
The 2003 State CAFR had a surplus of $11.73 BILLION in overpaid taxes hidden in it. That was enough to run the State, from then 'till now--Without collecting ONE MORE CENT in any form of taxation, from 01 July 2003 --- 01 July 2006!!!
So far, I have added up $8.6 BILLION for 2006 CAFR, and I'm still counting. And, I haven't even gotten to the local CAFRs, yet...YES, Each city, town, burgh, municipality and Brigadoon has its own CAFR! You might want to check on your school system's second set of books too.
Sort of makes Mitch's $2.1 BILLION budget surplus look like beer money, doesn't it?
For further reading on the subject, see: http://cafrman.com/
Think of the CAFR as the State's numbered Swiss account. They steal overpayments of taxes from you, then hide it, for themselves.
Red Headed Step-Child
UPDATE:
The total amount of over-collection in property tax, appears to be $1.1 BILLION. (Budget amount = $6 Billion / CAFR amount = $7.1 Billion)
The total over-collection appears to be $16.8 BILLION.
MORE TO COME...
WHY WONT DECATUR TOWNSHIP FIRE DEPARTMENT OF MARION COUNTY CONSOLIDATE TO SAVE THE TAXPAYERS MONEY AND LOWER THERE TAX?????
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