Bryan Corbin, writing for the Evansville Courier Press has an article entitled Rebate checks coming soon. The article suggests that the rebate checks may not have merely been a gimmick, rather, the mechanism was necessary because slot license revenues have to come in before the rebates are possible.
There is also some information on how the rebates will be calculated:
Exactly how the $300 million in property-tax relief will be divided among 92 counties and applied to individual taxpayers still is being determined.
The Indiana Department of Local Government Finance, the agency charged with that task, declined to comment and referred questions to legislative staff. They in turn cited the legal wording the Legislature passed in the state budget.
The law says the department will compile the total residential property-tax liability of all counties in the state.
Then it will divide the $300 million accordingly among the 92 counties and notify county auditors’ offices of new state homestead-credit rates, so that auditors can adjust their computer software. Using that information, auditors will calculate how much of an overage that residential property owners have paid and the amounts of their refunds. County treasurers will then issue the checks, tapping the relief money the state sent.
“They’re just putting more money into the homestead credit, so the same formula would be used to determine the amount of the refund,” said David Bottorff, executive director of the Association of Indiana Counties.
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