COST AND CONCERN: Business tax elimination cuts $3M from county
Editor’s note – The following is the first of a four-part series on the impact of eliminating the BPPT.WHITLEY COUNTY — An intiative spearheaded by Indiana Gov. Mike Pence could cost Whitley County municipalities and schools more than $3 million in annual revenue.Pence announced recently that he is working to eliminate business personal property tax (BPPT), which generates income from taxing business equipment and machinery. Those tax dollars directly benefit schools, county and city projects as well as economic development. Business taxes of this nature are added to the Tax Increment Fund (TIF), which gives municipalities the opportunity to offer financial incentives to incoming and growing businesses.To read the rest of this story, see the Jan. 7 issue of The Post and Mail. Don't have a subscription? Call (260) 244-5153 or subscribe to our e-edition. For breaking news, sports updates and additional coverage, bookmark the homepage and find us on facebook and twitter.