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City-County Council approves tax relief for homeowners, more from Hogsett's fiscal plan

Posted at 4:03 PM, Sep 13, 2022
and last updated 2022-09-13 16:03:01-04

INDIANAPOLIS — On Monday, the City-County Council unanimously passed three pieces of Mayor Joe Hogsett’s 2023 fiscal package.

Hogsett introduced the package on August 8, consisting of the 2023 proposed operating budget, the second half of the City’s allotment of federal American Rescue Plan funds, a fiscal to improve residential streets and major thoroughfares, a fiscal to provide Marion County homeowners with property tax relief, and a general obligation bond for capital projects to upgrade public facilities.

“These transformative investments will enhance the infrastructure, public safety, and prosperity of neighborhoods across Marion County,” said Mayor Hogsett. “My thanks to President Osili, Vice President Adamson, and Leaders Lewis and Mowery for their partnership. I look forward to continued collaboration with the City-County Council to improve the quality of life for residents, especially as we approach the passage of the proposed 2023 operating budget.”

The three components that were passed include $40 million in Circle City Forward funding, American Rescue Plan Act allocation and property tax relief.

Proposal No. 309, allocates the second half of the City’s American Rescue Plan (ARPA) funds from the federal government along with additional funding for the IndyRent rental assistance program.

Those ARPA funds will continue to power Mayor Hogsett’s $150 million violence reduction strategy, featuring $9 million for IMPD technology, 100 new IMPD officer positions, $45 million over the next three years for grassroots organizations, $30 million for mental health resources, and more; investment in Indy Parks playgrounds and courts; affordable housing initiatives through the Department of Metropolitan Development; and much more.

Proposal No. 310, allocates funding for property tax relief for Marion County homeowners.

Property owners occupying a homestead with an assessed value of less than $250,000 will receive a credit of $150; property owners with an assessed value of between $250,000 and $400,000 will receive a credit of $100. The one-time credit will appear on individuals’ Spring 2023 property tax bills. Over 191,500 homesteads are expected to receive the credit.

Proposal No. 311, allocates an additional $40 million toward the design, construction, and inspection of residential streets and major thoroughfares.

The proposal is part of Circle City Forward, an effort that goes beyond the annual budget to invest in public infrastructure and improve neighborhoods. Since 2021, the City has committed over $300 million toward local residential streets, major thoroughfares, parks, trails, and facilities through Circle City Forward.

The proposed 2023 operating budget and approval for the general obligation bonds will be up for a vote of the City-County Council on October 17.