Max Levy and Tax Cap data reviewed
At its first meeting in August each year, County Councils must review estimates of maximum property tax levies and funding losses due to the Circuit Breaker tax credits. As in prior years, our office has compiled a report with the relevant data for the Porter County Council's review on August 30. To view our report, click here: 2023 Max Levy and Circuit Breaker report. Most of the information for the report was derived from the following state reports: Estimated Maximum Levy for Budget Year 2023 and 2023 Estimated Property Tax Cap Impact Report.
The report includes levy and tax cap data for all taxing units in Porter County. For county government, the report shows:
- In accordance with the state max levy growth quotient of 5% for 2023, the maximum property tax levies for county government funds are estimated at $48.1 million, up from $45.9 million in 2022.
- The Circuit Breaker revenue loss for county government funds is estimated at $2.4 million, up from last year's estimate of $2.3 million.
Porter County taxable values climb
Our office has certified the net assessed values that will be used in the 2023 budget process. These values determine the tax base, and, as reflected in the chart above, the values once again climbed significantly.
Overall, the county's certified net assessed value (CNAV) totals $12.5 billion, an increase of 11.96% over this year's values. Some additional details:
- Real property values climbed an overall 14%, while personal property values declined 3.9%.
- Of the real property categories, homestead net values increased the most, 18.9%. The 2% tax category -- which includes apartments, other residential facilities, and agricultural land -- increased 9%. The 3% category -- which includes businesses -- increased 4.9%.
- The total taxable value of property in Tax Increment Financing (TIF) areas increased 9.9%.
- The CNAVs increased in all but one of Porter County's 31 taxing districts.
More CNAV details by individual taxing unit and fund are available online through this link on Indiana's Gateway portal.
Adjusted tax bills issued for Pine Township tax districts
|Taxing District||2021 Tax Rate||2022 Tax Rate|
|Pine Township--Michigan City Schools||1.4730||1.4016|
|Pine Township--Duneland Schools||1.5614||1.4965|
|West Porter Fire||1.4863||1.5796|
|Valparaiso--Center Township MTE||1.9863||1.9106|
Income Tax revenue for 2022 certified
The table below shows the local income tax (LIT) revenues that our office distributes monthly to the county, cities and towns. The revenue comes from payroll withholdings from those who work in the county.
Overall, Porter County's 2022 local income tax revenues are 2.4% lower than in 2021. Per state statute, half of the total is reserved for a credit on homeowner tax bills and for the Northwest Indiana Regional Development Authority. The other half is distributed to the county and municipalities.
Did you know? Porter County's LIT rate of 0.5% (.005) is the lowest in Indiana. Only one other county currently has this same rate. The following breakdown shows the distribution to the county and municipalities in 2021 and 2022.
Oct. 4 -- Porter County Commissioners, 10 a.m.
Oct. 4 -- Porter County Council 2023 budget hearings, 5:30 p.m. Budgets to include Sheriff, Jail, Prosecutor, Assessor, Veteran Services.
Oct. 6 -- Porter County Council 2023 budget hearings, 5:30 p.m. Budgets to include the courts, probation departments, Auditor, and Airport.
Oct. 11 -- Porter County Council 2023 budget hearings, 5:30 p.m. Budgets to include Highway, Storm Water, Parks, Animal Shelter, Commissioners.
Oct. 18 -- Porter County Council 2023 budget adoption, 5:30 p.m., to be followed by regular monthly Council meeting.
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