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DELAWARE COUNTY TAXESHow they are collected and where they go.
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TAX SOURCES FOR GOVERNMENT
Delaware County and all government agencies are funded by 2 main tax sources
1. Property tax.2. Income tax on wages.
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OTHER COUNTY TAXES
Two other taxes help fund some government services
1. Wheel tax2. Food & beverage tax
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PROPERTY TAXES
Property taxes are the main source of funding for local Indiana government.
Taxes levied on real property and business property
Capped as a percentage of assessed value by state law
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MAXIMUM PROPERTY TAX RATE
Homestead property (your primary residence) 1%
Other residential and agricultural property 2%
Commercial, industrial, and personal property 3%
Taxes cannot exceed these rates, even if it requires a reduction in the budgets of governmental units.
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DELAWARE COUNTY PROPERTY TAXES
40.28%
34.14%
14.85%
7.03%4.12%0.43% 0.02%
% of Delaware County Net Property Taxes Due
by Property Class in 2010 Paid in 2011
ResidentialCommercialPersonalAgriculturalIndustrialUtilityExempt
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HOW PROPERTY TAXES WERE DISTRIBUTED
32.47%
29.48%
19.86%
10.42%
4.35% 3.43%
% of Net Property Taxes Received by
Delaware County Government Units in 2011.
SchoolsCity/TownCountySpecialLibraryTownship
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HOW THE TAX DOLLARS WERE SPENT
70.97%
15.72%
13.31%
How Did Delaware County Gov-ernment
Units Spend Tax $'s Paid in 2011 ?
Operating Budgets
Debt Retirement
Capitol Outlays
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COMMON PROPERTY TAX DEDUCTIONS
Several property tax deductions are available to qualified homeowners.
The most common deductions are: 1. Homestead 2. Mortgage3. Other deductions are available for a variety
of circumstances including being over 65 with a limited income or being a disabled veteran.
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HOMESTEAD DEDUCTION
The total amount of homestead standard deduction for properties with value of $200,000 or less, which an individual may receive for a particular year, is the lesser of:
(1) sixty percent (60%) of the assessed value of the real property or mobile home; or
(2) forty-five thousand dollars ($45,000). High value homes qualify for a supplemental
homestead deduction in addition to the standard deduction.
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HIGH VALUE HOME DEDUCTION
The supplemental deduction is calculated at 35% of assessed value for properties with assessed values between $200,000 to $600,000 and at an additional 25% of assessed value for properties above $600,000.
All homestead deductions must be filed by January 5 for residences or March 31 for mobile homes.
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MORTGAGE DEDUCTION
You can take a mortgage deduction if you have a mortgage on your primary residence. The deduction is whichever is the least of the following:
(1) The balance of the mortgage or contract indebtedness on the assessment date of that year;
(2) One-half (1/2) of the assessed value of the real property, mobile home or manufactured home; or
(3) Three thousand dollars ($3,000). Must be completed by December 31
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LOCAL INCOME TAXES
Delaware County collects two different local option income taxes; County Option Income Tax (COIT) and County Economic Development Income Tax (CEDIT).
Both taxes are collected as part of your state income tax payment and are due April 15th.
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COUNTY OPTION INCOME TAX (COIT)
This tax is collected at a rate of .6% of wages earned by county residents.
Non-residents who work in Delaware County pay 25% of the resident tax rate (.15%).
Revenue from this tax is split proportionally between all county units of government that receive property taxes.
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COUNTY ECONOMIC DEVELOPMENT INCOME TAX (CEDIT)
Collected at a rate of .4% on wages earned by all people who are employed in Delaware County whether they reside therein or not.
0.2% of this tax is distributed proportionally to Delaware County government and all cities and towns therein.
0.2% is used as Homestead Credit relief.
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OTHER TAXES
Wheel Tax: Must be used for road improvement per county statute.
Food and Beverage tax: This is used to fund the operations of the Delaware County Civic Center Authority (the convention center in downtown Muncie).
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WHEEL TAX RATES:
Passenger cars and light trucks $25 Motorcycles $15 Busses $40 Recreational vehicles $40 Semi-trailers $40 Tractors
$40 Light trailers (less than 12,000 lbs) $ 5 Heavy trailers (12,000 lbs and greater) $40 Trucks (greater than 11,000 lbs) $40
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SOME SERVICES FUNDED BY TAXES
Animal control
Beach Grove Cemetery
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Libraries
Streets, bridges, roads
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Parks
Schools
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Fire protection
Police
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Sanitation and sewage
Public health
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FOR MORE INFORMATION: