Comments on: 300 Jobs Going To Iowa Instead of Indiana http://hoosieraccess.com/blog/2008/11/07/300-jobs-going-to-iowa-instead-of-indiana/ HoosierAccess.com Thu, 18 Mar 2010 17:08:16 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Joel Harris http://hoosieraccess.com/blog/2008/11/07/300-jobs-going-to-iowa-instead-of-indiana/comment-page-1/#comment-6740 Joel Harris Sat, 08 Nov 2008 16:10:55 +0000 http://hoosieraccess.com/?p=3124#comment-6740 More info on Illinois: They do not have a "state" property tax, only local real property tax. Actually Indiana does the same thing: the only state item is the State Fair grounds, which is something like a 0.01% tax rate. But it does look like they have comparable real property taxes to ours. See www.stlrcga.org/x489.xml But corporations have a "replacement" tax, which is something like a 2.5% income tax that goes to localities as a replacement for personal property taxes that were eliminated years ago. That doesn't seem particularly competitive to me. But then again, I don't know anything about the general Corporate tax rates. More info on Illinois: They do not have a “state” property tax, only local real property tax. Actually Indiana does the same thing: the only state item is the State Fair grounds, which is something like a 0.01% tax rate.

But it does look like they have comparable real property taxes to ours. See http://www.stlrcga.org/x489.xml

But corporations have a “replacement” tax, which is something like a 2.5% income tax that goes to localities as a replacement for personal property taxes that were eliminated years ago. That doesn’t seem particularly competitive to me. But then again, I don’t know anything about the general Corporate tax rates.

]]> By: Joel Harris http://hoosieraccess.com/blog/2008/11/07/300-jobs-going-to-iowa-instead-of-indiana/comment-page-1/#comment-6739 Joel Harris Sat, 08 Nov 2008 16:03:07 +0000 http://hoosieraccess.com/?p=3124#comment-6739 You're going to have to help me out here a bit. Clearly Illinois DOES have property taxes as they have a web site dedicated to it: www.revenue.state.il.us/LocalGovernment/PropertyTax/index.htm So there must be a bit more to the story than Illinois doesn't have any. In the reading I did when we were going through these battles, there is not ONE state in the union that does not use property taxes to one degree or another. That isn't an argument against getting rid of property tax. Just an argument that governments have had a difficult time doing so. You’re going to have to help me out here a bit. Clearly Illinois DOES have property taxes as they have a web site dedicated to it:

http://www.revenue.state.il.us/LocalGovernment/PropertyTax/index.htm

So there must be a bit more to the story than Illinois doesn’t have any. In the reading I did when we were going through these battles, there is not ONE state in the union that does not use property taxes to one degree or another.

That isn’t an argument against getting rid of property tax. Just an argument that governments have had a difficult time doing so.

]]> By: daltonsbriefs http://hoosieraccess.com/blog/2008/11/07/300-jobs-going-to-iowa-instead-of-indiana/comment-page-1/#comment-6734 daltonsbriefs Sat, 08 Nov 2008 14:39:45 +0000 http://hoosieraccess.com/?p=3124#comment-6734 I've been working on an economic development project lately, comparing Illinois and Indiana and trying to look at why companies choose Illinois. The biggest issue is our personal property tax, which Illinois does not have. In one case a technology company with $40 million in new technology alone saw moving to Indiana as costing $8 million more than moving to Chicago! (over 20 years) Probably time to look at eliminating the personal property tax in Indiana. It's under-reported, most small businesses don't even pay it, it's targeted unfairly at computers while letting steel mills pay "special" rates ... I'd say an unfair tax all around. I know we're still reeling from getting rid of the inventory tax, but I'd like to see the legislature step up and layout a 10 year plan to eliminate the personal property tax. I’ve been working on an economic development project lately, comparing Illinois and Indiana and trying to look at why companies choose Illinois. The biggest issue is our personal property tax, which Illinois does not have. In one case a technology company with $40 million in new technology alone saw moving to Indiana as costing $8 million more than moving to Chicago! (over 20 years)

Probably time to look at eliminating the personal property tax in Indiana. It’s under-reported, most small businesses don’t even pay it, it’s targeted unfairly at computers while letting steel mills pay “special” rates … I’d say an unfair tax all around.

I know we’re still reeling from getting rid of the inventory tax, but I’d like to see the legislature step up and layout a 10 year plan to eliminate the personal property tax.

]]> By: Josh Gillespie http://hoosieraccess.com/blog/2008/11/07/300-jobs-going-to-iowa-instead-of-indiana/comment-page-1/#comment-6710 Josh Gillespie Fri, 07 Nov 2008 20:28:29 +0000 http://hoosieraccess.com/?p=3124#comment-6710 <blockquote>The company, now located near Chicago, develops curricula and other support materials for the homeschool industry.</blockquote> I'm not thinking that's a company worried about union employees or is too worried about "right to work". Just throwing that out there. Especially since I know a lot of homeschoolers and am at the very least partially familiar with their curriculum.

The company, now located near Chicago, develops curricula and other support materials for the homeschool industry.

I’m not thinking that’s a company worried about union employees or is too worried about “right to work”. Just throwing that out there. Especially since I know a lot of homeschoolers and am at the very least partially familiar with their curriculum.

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