Transcript Delaware County Taxes - Muncie Public Library

DELAWARE COUNTY TAXES
How they are collected and where they go.
TAX SOURCES FOR GOVERNMENT
 Delaware
County and all
government agencies are funded by 2
main tax sources
1.
2.
Property tax.
Income tax on wages.
OTHER COUNTY TAXES
 Two
other taxes help fund some
government services
1.
2.
Wheel tax
Food & beverage tax
PROPERTY TAXES
Property taxes are the main source of funding for
local Indiana government.
 Taxes levied on real property and business
property
 Capped as a percentage of assessed value by
state law

MAXIMUM PROPERTY TAX RATE
Homestead property (your primary residence) 1%
 Other residential and agricultural property 2%
 Commercial, industrial, and personal property
3%


Taxes cannot exceed these rates, even if it
requires a reduction in the budgets of
governmental units.
DELAWARE COUNTY PROPERTY TAXES
0.43%
4.12%
7.03%
14.85%
34.14%
0.02%
40.28%
% of Delaware County
Net Property Taxes Due
by Property Class
in 2010 Paid in 2011
Residential
Commercial
Personal
Agricultural
Industrial
Utility
Exempt
HOW PROPERTY TAXES WERE DISTRIBUTED
% of Net Property Taxes Received by
Delaware County Government Units in
2011.
4.35% 3.43%
10.42%
32.47%
19.9%
29.48%
Schools
City/Town
County
Special
Library
Township
HOW THE TAX DOLLARS WERE SPENT
How Did Delaware County Government
Units Spend Tax $'s Paid in 2011 ?
13.31%
15.72%
Operating Budgets
70.97%
Debt Retirement
Capitol Outlays
COMMON PROPERTY TAX DEDUCTIONS
Several property tax deductions are available to
qualified homeowners.
 The most common deductions are:
1. Homestead
2. Mortgage
3. Other deductions are available for a variety of
circumstances including being over 65 with a
limited income or being a disabled veteran.

HOMESTEAD DEDUCTION
The total amount of homestead standard
deduction for properties with value of $200,000 or
less, which an individual may receive for a
particular year, is the lesser of:
 (1) sixty percent (60%) of the assessed value of
the real property or mobile home; or
 (2) forty-five thousand dollars ($45,000).
 High value homes qualify for a supplemental
homestead deduction in addition to the standard
deduction.

HIGH VALUE HOME DEDUCTION
The supplemental deduction is calculated at 35%
of assessed value for properties with assessed
values between $200,000 to $600,000 and at an
additional 25% of assessed value for properties
above $600,000.
 All homestead deductions must be filed by
January 5 for residences or March 31 for mobile
homes.

MORTGAGE DEDUCTION
You can take a mortgage deduction if you have a
mortgage on your primary residence. The
deduction is whichever is the least of the
following:
 (1) The balance of the mortgage or contract
indebtedness on the assessment date of that
year;
 (2) One-half (1/2) of the assessed value of the real
property, mobile home or manufactured home; or
 (3) Three thousand dollars ($3,000).
 Must be completed by December 31

LOCAL INCOME TAXES
Delaware County collects two different local
option income taxes; County Option Income Tax
(COIT) and County Economic Development
Income Tax (CEDIT).
 Both taxes are collected as part of your state
income tax payment and are due April 15th.

COUNTY OPTION INCOME TAX (COIT)
This tax is collected at a rate of .6% of wages
earned by county residents.
 Non-residents who work in Delaware County pay
25% of the resident tax rate (.15%).
 Revenue from this tax is split proportionally
between all county units of government that
receive property taxes.

COUNTY ECONOMIC DEVELOPMENT
INCOME TAX (CEDIT)
Collected at a rate of .4% on wages earned by all
people who are employed in Delaware County
whether they reside therein or not.
 0.2% of this tax is distributed proportionally to
Delaware County government and all cities and
towns therein.
 0.2% is used as Homestead Credit relief.

OTHER TAXES
Wheel Tax: Must be used for road improvement
per county statute.
 Food and Beverage tax: This is used to fund the
operations of the Delaware County Civic Center
Authority (the convention center in downtown
Muncie).

WHEEL TAX RATES:
Passenger cars and light trucks
 Motorcycles
 Busses
 Recreational vehicles
 Semi-trailers
 Tractors
 Light trailers (less than 12,000 lbs)
 Heavy trailers (12,000 lbs and greater)
 Trucks (greater than 11,000 lbs)

$25
$15
$40
$40
$40
$40
$5
$40
$40
SOME SERVICES FUNDED BY TAXES

Animal control

Beach Grove Cemetery

Libraries

Streets, bridges, roads

Parks

Schools

Fire protection

Police

Sanitation and sewage

Public health
FOR MORE INFORMATION: