The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-06-29

The budgets now are in
formation and expected to be
submitted to governing bodies
of the three branches early
this fall.
Same Total Valuation
The reduction in the assessment
level is expected to bring property
to about fair cash value, but Will
not result in its being assessed be-
low fair cash value, it was said.
McCloskey and chamber officials
said eoualizations now being COM
pleted by the assessors office have
resulted in adding large amounts
to the tax duplicates which had
escaped because of clerical errors or
changes of the record through IA
Voritism.
However, they pointed out, that
reductions granted by the assessor
where there has been evidence OF
over-assessments about offset the
increases, resulting, according to
McCloskey. in approximately the
same total valuation in the town
ship before application OF the ~
per cent order.
"Cut in the governmental unit
budgets coupled with the reduced
assessments, will give property own
ers. especially those holding real es-
tate. substantial and immediate re-
lief from high taxes" chamber Of
ficials stated.
Aware of Inequalities
Persons receiving county notices
of the assessed valuations on their
property, will receive a final esti-
mate Of 20 per cent less, McCloskey
stated.
Our purpose is to make all ap-
praisals relatively the same" NC
Uoskey said. 1--WE realize that there
still will be some inequalities that
will require adjustment. In some
instances, there have been increases,
in others. reductions.
1--WE are aware of the present eco
nomic condition and its effect on
real estate and the further fact that
the tax on real property is reaching
a form of confiscation.
That the special session o. the
legislature will pass some remedial
bills to relieve this burden in real
property and help end unemploy-
ment, aid industry and property, is
my hope"
McCloskey said the reduction
should put a brake on the orgy OF
public spending"
Begin Immediate Survey
McCloskey showed that in 1905
real estate valuation in the county
was sits, 410,665 with S2.15 tax
rate. These figures have jumped
annually until in 1929 the valuation
stood at $795 $685., 800 with a 1888
tax rate.
Oficials of the city, schools and
county began an immediate study
of the situation. 1t was anticipated
that many complaints will come
from department heads who have
asserted their budgets were cut to
the bone in the latter part of 1881.
1t will necesSitate large operating
reductions to cover the total OF
S2,4O0,O00 for the three governing
units, it was pointed out.
Action of McCloSkey does not
prevent taxpayers from appearing
before the board of review with
complaints, he announced.
Increase Is Noted
A committee is to be appointed to
cooperate with the township and
county assessors and the board of
review in obtaining a fair and equal
assessment, in comparison with
other communities, on all local prop
erty, William H. Book, chamber
civic affairs director, said.
While personal property, re-
assessed last year, has had the bene-
ut of deflation in the last three
years." Book said, real estate and
improvements have stood at the in
fiated values of the period before
the depression.
There have been large reductions
in assessments throughout the state,
and indianapolis should have sim
liar reduction to prevent great dis
elimination against the community
in both state and county taxes.
Il feel that McCloskey has done
an excellent job of assessing. as far
as equalization goes, but a hori-
0ontal reduction is needed"
Book pointed TO Is per cent
reduction in Franklin township.