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New Indiana Farm Ground Tax Valuation Reduction

By Curt W. Pletcher, CPA, Partner, April 06, 2017
Latest News

If you are surrounded by luscious green farm ground dotted by herds of cattle or other livestock you need to be aware about changes to future farm ground assessed base value. The base value per acre for taxes payable in 2016 was $2,050 per acre and was reduced to $1,960 per acre for taxes payable in 2017. The Department of Local Government Finance base rate for taxes payable in 2018 has been certified at $1,850 per acre. Proposed legislation, Senate Bill 308, is estimated to further reduce the base value to $1,500-$1,600 per acre by year 2020. That’s an overall reduction of 20 to 25 percent in farm ground net assessed value.

The change may assist agri-business but it shifts the tax burden to homeowners, rental property, retail, commerce and industrial property. The change may also increase tax rates, tax caps and other revenue reductions with the overall reduction in net assessed value.

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Rising Interest Rates and Utility Capital Projects

By Andre J. Riley, Manager, April 06, 2017
Latest News

The economy continues to improve and with that we have seen short-term interest rates starting to rise and a resetting of the long-term interest rates beginning around November 2016. In addition, during December 2016 the Federal Open Market Committee (FOMC) of the Federal Reserve System increased the key interest rate benchmark (Federal Funds Rate) for only the second time in the past ten years , and again recently the FOMC raised the benchmark an additional .25 percentage points on March 15th. All indications seem to lead us to suspect that the FOMC will implement additional rate hikes in the future.

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Umbaugh Top Ten Most Active Municipal Advisor in Nation

By Umbaugh Announcements, March 30, 2017
Latest News

Umbaugh says “Thank you!” to our many clients. We are proud to be ranked as the 6th most active municipal financial advisor in the Nation as tracked by the Thomson Reuters reporting company based on the number of capital market bond issues. For 2016, Umbaugh ranked second most active among Municipal Financial Advisors in the Mideast Region. (The Mideast Region includes: Illinois, Indiana, Michigan, Ohio, West Virginia, Wisconsin).

Umbaugh also ranked first overall in the Indiana Rankings of Municipal Financial Advisors and second overall among Ohio Municipal Financial Advisors.

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Public Finance Leadership Summit Wrap Up

By Umbaugh Announcements, March 16, 2017
Latest News

Thank you to everyone who attended the inaugural Indiana Public Finance Leadership Summit last week in Carmel. It was a rousing success!

Approximately 200 people were in attendance to learn the latest developments in public finance, intergovernmental collaboration and best practices from recognized industry experts and national leaders.

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Who? What? When? Where? How?

By Heidi L. Amspaugh, CIPMA, Principal, March 08, 2017
Latest News

New requirements for the DLGF TIF Management Report due April 15th.

Redevelopment Commissions must meet many reporting deadlines through the year, as detailed in a previous Vision article “Redevelopment Commission Annual Requirements” (hotlink here). Here’s a deep dive into information needed for the required Department of Local Government Finance TIF Management Report which is due April 15th.

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Considering Changes in Your Local Income Tax

By Jason G. Semler, CPA, Partner, March 08, 2017
Latest News

You have probably finished submitting your 1782 notices and finalized your budgets for 2017. Now is the time to think ahead to your 2018 budget. Making changes now to your Local Income Tax calculations could increase revenues or reduce circuit breaker losses.

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WIFIA Assistance Available

By Scott A. Miller, CPA, Partner, March 02, 2017

In 2014, Congress passed the Water Infrastructure Finance and Innovation Act of 2014 which established a federal credit program known as WIFIA. Administered by the U.S. Environmental Protection Agency (EPA), the program is designed to accelerate investment in water and wastewater infrastructure projects that have national or regional significance. Since adoption, EPA has worked to develop the rules and framework for the program and is now ready to begin funding projects. In legislation adopted late last year, Congress provided $20 million in budget authority which EPA estimates may provide more than $1 billion in credit assistance and may finance over $2 billion in water infrastructure projects.

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Don’t Miss Redevelopment Commission 2017 Reporting Deadlines

By Matt Eckerle, Principal, March 02, 2017
Latest News

Redevelopment Commissions must meet several reporting deadlines for calendar year 2017. It is important to adhere to the requirements as the DLGF tracks compliance and failure to meet the excess notification and neutralization deadlines can jeopardize your ability to capture incremental assessed value. Below is an outline of filing and deadline requirements for 2017 with links to more detail:

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Promotion to Principal

By Umbaugh Announcements, February 23, 2017

Heidi Amspaugh was selected for promotion based on her commitment to Umbaugh's core values of Excellence, Innovation, Independence, Integrity and Collaboration.

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Gateway Debt Affirmation Deadline is March 1

By Susan Borries Reed, Director of Disclosure Strategy and Services, February 23, 2017
Latest News

As you are aware, the Gateway Debt Affirmation deadline for all units is March 1, 2017. We have noticed a lot of our clients have not yet completed this. The affirmation process requires you to log into the Gateway Debt Management file and review the debts previously submitted. Make sure all your debt is listed and current and all matured or refinanced debt is marked as “retired”. If everything is correct, then sign the affirmation statement and it is completed. If you have any new bonds or lease-to-purchase debt that has not been entered, it will need to be entered and submitted before signing the affirmation statement.

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