Terre Haute Mayor: Tax Cut Could Cost JobsPosted: Updated:
Terre Haute Mayor Duke Bennett says a reduction in the state's business personal property tax could cost the city up to $4.5 million. Our partners at WTHI-TV report Bennett says the potential loss could result in layoffs of public safety workers. He made the comments Thursday in his State of the City address. Bennett says the city already loses about $9 million each year because of property tax caps. He says paying less in taxes isn't worth it if government can't do its job.
The Indiana House and Senate have approved separate versions of a business personal property tax bill. Governor Mike Pence and other supporters say phasing out the tax would eliminate a barrier to job creation. Opponents say it puts too much of a burden on already cash-strapped communities.
Sources: WTHI-TV, Inside INdiana Business