Apartment Owners Raise Concerns About Proposed Downtown Taxing District
(INDIANAPOLIS) - Downtown Indianapolis businesses are gathering signatures to form their own taxing district. But one big stakeholder is raising questions.
The nonprofit Downtown Indy is leading the push to impose an extra property tax in the Mile Square, with downtown property owners maintaining control over how to spend it. Those properties include 2,700 apartments, and Indiana Apartment Association president Lynne Petersen says her group has questions about what that money would buy. She says it doesn't make sense to charge property owners an estimated $3 million dollars a year for services the city already provides, or which they already pay for themselves.
And while apartments are residences, they're taxed as businesses, and would pay a higher rate under the plan.
So far, the association isn't actively opposing the taxing district, but Petersen says the association wants answers before it can support it. The petition drive needs signatures from a majority of property owners and from enough owners to represent a majority of assessed value.
(Photo: Eric Berman/WIBC)