EARLY RELEASE OF HOMESTEAD CREDITS

AIC Supports Early Release of Homestead Credits

(INDIANAPOLIS, IN) – The Association of Indiana Counties (AIC) supports Governor Mitch Daniels’ announcement today that he is allowing the early release of the homestead credits to local units of government. A news release from the governor’s office states that the $620 million advance is possible because the state has sufficient reserves as it ends Fiscal Year 2008. This will not reduce the amount of property tax relief that homeowners will receive in 2008.

For units of local government suffering through the natural disasters, this gives them the cash to handle the unanticipated expenses of dealing with recovering from the disaster. It also reduces the chance that local units of government will have to borrow money.

“This is great news,” said David Bottorff, AIC Executive Director. “By releasing this money early, it helps every unit of local government in the state. For a variety of reasons, many property tax bills were not mailed in the spring, so local units of government have been strapped for cash.”

The amounts each county will receive in less than two weeks can be found at this link: http://www.in.gov/gov/files/620M_homestead_credits_by_county.xls

Dearborn
$3,906,774

The Association of Indiana Counties, Inc. is a nonprofit organization that was established in 1957 for the betterment of county government. The various functions of the AIC include lobbying the Indiana General Assembly on behalf of counties, serving as liaison among counties, state and federal agencies as well as providing technical assistance and training to county officials and employees.