The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-08-31
CITY REALTY BOARD CARRIES
BUDGET SLASH BATTLE INTO
SCHOOL AND COUNTY ARENA
Demand Served by Miles
for Bonded Indebtedness
Refunding Plan.
SULLIVAN IS TARGET
Substantial Reduction Can
Be Made in Tax Rate,
ReaItOr Asserts.

Standing firmly behind its
insistence for strict enforce
ment of the $1.50 tax levy
law, the Indianapolis Real
Estate Board today included
the county and the Indianap-
oils school board in its fight
for reduced 1884 budgets.
j. Harry Miles, real estate board
pre- d e t, announced that the
school board and county officials
would be served with a demand
jimilar to that made on the city
administration for refunding OF
bonded indebtedness.
The boards program calls for dis
tributing the $34, 191 800 debt of the
three units over a 44-year period,
by issuing refunding bonds to pres
ent bond holders.
Sees Substantial Saving
Substantial reduction of the pro-
posed STOP rate demanded by the
school board budget, and the esti-
mated 76-cent county rate, can be
accomplished by the plan, Miles de-
clared.
The boards efforts to reduce the
total Marion county tax rate were
started Monday night, at the first
hearing on the proposed city budget,
which demands a levy of $1.31, a
scent increase over the rate this
year.
Although school and city officials
declare their rate can not be cut
without impairing seriously the eff
cheney of operation, members of the
county council are planning to slash
the county rate.
Refuse to Take Blame
Only comment of board members
regarding Sullivan's charge Wednes-
day, that real estate men themselves
were responsible for increased tax
rates by sponsoring property valua-
ton reduction, was:
I'VE welcome recognition of what
we do, but we must decline the
f1attery of causing the depression"
Business conditions and inability
to sell property at former figures
automatically caused the reductions
in valuations, one of the most i'm
portant of which was copper cent
blanket slash made by John c. Nc
Closkey, Center township assessor,
last year.
The announcement was made
jointly by McCloskey and the In
dianapolis Chamber of Commerce,
the latter organization also being
target for the mayors charge.
Personally, think Mayor Sulli-
van is a fine, conscientious man and
mayor, but he has taken the wrong
position in drawing the city budget"
Miles said, particularly when he
knows there is law prohibiting
the collection of more than S1.50
on each 500 of property valuation"
Cox Drawn Into Fight
Circuit Judge Earl R. Cox, who
presided at hearings in suit
brought by tax reduction groups
seeking to prevent collection of the
1888 levy beyond $3.50, also was
drawn into the controversy today.
Miles said that if earlier efforts
proved fruitless, the board would
arrange for a public demonstration
at the meeting of the Marion coun-
ty tax adjustment board, when final
approval will be given the budgets
and the county tax rate set.
The tax adjustment board has
power to declare an emergency or
necessity in increasing the tax rate
above the maximum set by statute.
An appeal is pending in the In
diana supreme court against the
S2.82 rate which Cox permitted this
year" Miles said. I'VE still believe
his dociciOo voc iIIpoa1D