April 06 2017 Newsletter (888) 516 9594
New Indiana Farm Ground Tax Valuation Reduction

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.

Read Full Article » Give Article Feedback » E-mail Umbaugh »
Rising Interest Rates and Utility Capital Projects

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.

Read Full Article » Give Article Feedback » E-mail Umbaugh »
Copyright © 2018 H. J. Umbaugh and Associates, Certified Public Accountants, LLP.
All rights reserved. www.umbaugh.com
Terms & Conditions | Privacy Policy | unsubscribe
Having trouble seeing this email? View this email in your web browser