TIPPECANOE COUNTY, Ind. (WLFI) — Residents living in Tippecanoe County may see a difference in their property taxes this year, and Auditor Bob Plantenga explains why.
Due to recent legislation, homestead credit is calculated differently now. So instead of considering location of inventories, the rate is uniform throughout the county.
This may cause certain people, especially those living in Lafayette, to see a change in their bill.
Additionally, Plantenga says the Lafayette School Corporation Debt Service rate has increased by 8 cents.
And in order to maintain major bridges in the county, taxpayers will pay a rate of 1 cent per $100 dollars of net assessment.
Lastly, property tax owners will now be responsible for the full jail lease rate which pays the bonds on the Tippecanoe County Jail. For the past three years, the county has footed half of that bill by using money from the rainy day fund, but now that plan has expired.
“That would be the major changes,” Plantenga said. “None of them are really overly significant, but people may see their taxes go up some.”
He said these aren’t very big changes, but he still wanted to give people a heads up.
“Just look at the bill, the bill does have a page to it that describes where all of your money is going,” Plantenga said. “And I think that’s a really good informational tool for people to look at.”
People can view their bill as early as the middle of next week by going to the Tippecanoe County website.
Otherwise, bills are expected to be out by the first week of April and will be due by May 10.