If it’s by market value, does the government budget double if the market value doubles?
Based on Kenley’s comments I don’t think they (Daniels and those that created the tax reform) ever thought Indiana would experience such a drastic bubble to have this issue. He also is looking into way to balance this as I have read. Historically Indiana was a slow steady appreciating state, no bubbles here. Although is this a bubble? In the last twenty years we have allowed 60-70 MILLION people into this country, there is a housing shortage, this is not just inflation alone.Why should government entities that rely on property taxes have a windfall for every housing bubble? As mentioned there are other ways to raise money governments need to operate. Have a bake sale.