Saturday, April 10, 2010

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<b>Property</b> <b>tax</b> bills arriving on time

Posted: 10 Apr 2010 12:13 AM PDT

Property tax bills will begin arriving in mailboxes today – marking the first time since 2005 that Allen County bills were mailed on time.

DeKalb County taxpayers can also expect to receive bills this weekend.

Allen County officials said in February they hoped to get bills in the mail by Friday, giving property owners a full month to pay. Bills will be due May 10 and Nov. 10.

"We made it. We were so happy," Treasurer Sue Orth said of meeting that deadline.

The last time spring bills were due on May 10 was in 2005, Orth said.

Last year, spring property taxes weren't due until August

On-time billing ensures area cities, townships and libraries receive the revenue they need to cover payroll or pay the light bill. Otherwise, local government has to borrow and pay interest, which can cost taxpayers in the long run, she said.

It also ensures that property owners have six months between due dates. Orth said it was tough for homeowners to come up with the money to pay their bills in August, which typically is a month for buying back-to-school clothes and supplies.

"It's much better for everyone when they can pay on time," she said.

As in past years, all property owners will receive a bill in the mail even if their pay their taxes through their mortgage company. The bills detail how their tax dollars are split among different taxing units.

The bills also serve as notice of assessment. Property owners have 45 days to appeal their assessed value, which form the basis for tax bills, Orth said.

Orth said property owners should pay the full amount on the bill to avoid penalties. If the assessed value is reduced and they end up owing less, any extra they paid will count toward the fall portion, she said.

Also included in the bills will be a pink form that homeowners should return to the county auditor's office to continue receiving a homestead deduction. Homestead deductions keep property taxes low for homeowners.

Allen County homeowners have several options to pay their tax bills. They can pay in person at the treasurer's office, Room 104 in the City- County Building, or at local banks listed on the back of their bill.

The treasurer also offers several electronic methods of payment including direct withdrawal from a bank account or by credit card. To see those options, go to www.allencountytreasurer.us.

Taxpayers can also use the drop box on the Main Street side of the Allen County Courthouse or use the drop slot outside the treasurer's office.

Bills for DeKalb County property owners will also be due May 10 and Nov. 10, but property owners will receive only one notice.

Taxpayers who keep an escrow account with their mortgage company will receive a bill marked in blue ink "escrow billed."

If homeowners have a question about whether their mortgage company will pay, they should contact their mortgage company.

If the spring installment plus any delinquent taxes are paid within the first 30 days after the due date, the late penalty will be 5 percent of what is owed. Otherwise, the penalty rises to 10 percent.

For questions about billing, property owners can call the DeKalb County treasurer's office at 260-925-2712 or go to www.co.dekalb.in.us.

To appeal an assessed value, property owners should call the DeKalb County assessor's office at 260-925-1824.

aiacone@jg.net

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Allen County <b>property</b> <b>tax</b> bills hit the mail on time this year

Posted: 09 Apr 2010 09:11 PM PDT

Allen County property tax bills are in the mail. And right on time, too.

Bills in recent years have been delayed in large part because of the time it took to comply with changes in state tax laws. County Treasurer Susan Orth said she is "thrilled" the bills were mailed on schedule, but cautioned that both spring and fall payment coupons are included on the same bill. There will be no fall billing. The spring tax payment is due May 10, with the fall payment due Nov. 10.

Tax bills may be paid in person in the Treasurer's office and at participating local banks listed on the back of the bill. Several payment options are listed on the Treasurer's Web site, www.allencountytreasurer.us
. There are also payment drop boxes outside the north side of the County Courthouse and a drop slot just outside the Treasurer's office in Room 104 of the City-County Building. Office hours are 8 a.m. to 5 p.m., Monday through Friday.

Orth said that, along with the bill, taxpayers should also pay attention to the enclosed pink sheet of paper. This is a "Homestead Verification Form" and must be completed and returned to the Auditor's Office if the homeowner wants to continue receiving the benefit of the Homestead deduction – the most commonly used property tax deduction in Indiana.

Individuals or married couples claiming the homestead deduction must provide the last five digits of their driver's license and social security numbers. This information will be placed in a secure database that will enable all county auditors in Indiana to cross-check names, identifying those who may be claiming a homestead deduction in more than one county.

Specific questions about property tax deduction eligibility or the homestead verification form should be directed to County Auditor Lisa Blosser's office in Room 102 of the City County Building. Office hours there are also 8 a.m. to 5p.m., Monday through Friday. Taxpayers can also call the Auditor at 449-7241 or go to www.AllenCountyAuditor.us.

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Eastday-Experts divided on <b>property</b> <b>tax</b> merits

Posted: 09 Apr 2010 06:28 PM PDT

Industry experts are divided on whether a property tax in China can help curb high housing prices and if it is proper to impose now.

The debate surfaced after a report by Shanghai Securities News on Thursday saying that Shanghai has been studying plans to impose the tax on home owners during the period they hold their homes. The report also said a draft scheme has already been worked out.

Home owners in China now pay the tax when they buy or sell their properties.

The Shanghai Housing Guarantee and Administration Bureau, the local industry watchdog, said on its Website the same day that the city would implement the central government policy once it is released, without giving further details.

"The property tax should be levied as soon as possible because it can definitely help curb speculation by raising the costs of holding a property," said Song Huiyong, director of research at Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain. "However, it is inappropriate to just copy foreign practice here because home owners in China do not own the land on which their houses are built."

Speculation on real estate has become a very serious problem, especially in first-tier cities where up to 40 percent of new properties, excluding those for relocated residents under urban redevelopment plans, are currently vacant, Song said.

Not everyone agreed with that, however.

Yin Kunhua, a professor at Shanghai University of Finance and Economics, is among those against the tax. He argued other countries impose the tax on land ownership and it is rather unfair to levy it on Chinese home owners who just "rent" the land from the government.

He also cautioned that imposing the tax may likely exert further pressure on the high property prices as sellers will pass on their increased costs to buyers.

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