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Pieces of the Puzzle - AV & LIT Analysis

By Andrew O. Mouser, Manager, March 08, 2018

As a public official, you may at times feel stuck in the detail of what is affecting local government funding in your community. Often, taking a moment to step back from the specifics to see the big picture can prove invaluable. To help you, we have created a focused Assessed Value and Local Income Tax Analysis service, or as we call it, AV & LIT Analysis.

Assessed Value (AV) plays a large role in how budgets convert to tax rates and Circuit Breaker pressures.

  • What percentage of your tax base is made up of agricultural and farm land, industrial and commercial property or residential homes and apartments?
  • How does the age and occupancy rate of your housing stock affect your AV?
  • What impact do large utility or industrial equipment investments have on your tax base?
  • What are the single largest AV investments across your multi-county region?
  • How is your community affected by anticipated future decrease in farmland AV as pointed out previously in the New Indiana Farm Ground Tax Valuation Reduction article.

The answers to questions like these provide insight to what your future AV might look like, which then allows you to better project future property tax dollars you’ll have available to provide services.

Umbaugh will identify the AV components and drivers in your tax base, diagnose trends and benchmark your community to its peers. If the signs point to increasing pressures on property tax revenues, you may need to consider exploring your Local Income Tax (LIT) options, a resource that communities are increasingly turning to. The Umbaugh AV & LIT Analysis will provide beneficial information to explain not only where your community is coming from, but also where it may be headed in the years to come.

If you have questions about our new Umbaugh AV & LIT Analysis, please contact us at .(JavaScript must be enabled to view this email address).

Information in this article was believed current as of the date of publication. As you know, changes occur frequently. The information presented is of a general educational nature. Before applying to your specific circumstances, please contact us at vision@umbaugh.com.


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