Big losses seen due to tax caps

    Indiana's property tax caps are going to cost local governmental entities some major capital fund losses during this year's tax collections.
    Figures compiled by Adams County Auditor Bill Borne and presented to the county commissioners this week show a $364,178 loss for Adams County, a $316,769 loss for North Adams Schools, and a $249,713 loss for the City of Decatur.
    In other words, those are the losses those three will each suffer, due to the tax caps, from the amounts they had budgeted for for 2012 — funds they had anticipated receiving through tax collections..
    Berne will lose $112,278 and the South Adams Schools system $174,523.
    The caps — in effect for the second year — limit the amount a property owner must pay based on the property’s value. Homeowners can’t pay more than one percent of their home’s value, while the limit is two percent for rental properties and farmland and three percent for businesses.
    Following are the losses each of the entities will see this year.

Adams County $364,178.46

Adams County Townships
    • Blue Creek $11.83
    • French -$3.41
    • Hartford $18.06
    • Jefferson $5.08
    • Kirkland $17.23
    • Monroe $163.01
    • Preble $23.32
    • Root $1,558.06
    • St. Mary's $50.12
    • Union $1.20
    • Wabash $3,270.03
    • Washington $9,738.61

Adams County cities and towns
    • Decatur $249,713.43
    • Monroe $1,836.34
    • Berne $112,278.34
    • Geneva $55,137.29

Adams County libraries
    • Adams Public (Decatur and Geneva) $43,194.96
    • Berne City $36,441.99

Adams County Solid Waste-$19,339.68
Adams County Community Schools
    • North Adams $316,769.94
    • Adams Central $3,810.79
    • South Adams $174,523.91