Putnam County homeowners will share about $1.1 million in property tax rebates now that the state has certified how $300 million will be divided among Indiana's 92 counties.
State officials announced Thursday that the 2007 homestead refunds will be allocated through rebate checks to about 1.6 million Hoosiers with a homestead exemption on their property this year.
For Putnam County, that means $1,163,080 in extra relief that is meant to blunt big property tax increases seen by many homeowners.
The state's Department of Local Government Finance has certified rebate tax rates for each taxing unit with a certified budget order, which will allow county auditors to calculate the rebate amounts for each parcel. For those counties without a certified budget order, or some counties undergoing reassessments, the rebate rates will be certified when budget orders are issued or reassessments are complete.
State fiscal analysts have estimated that the rebates would average about $240, but the amount will vary depending on what taxing district a person lives in and the value of his or her home.
DLFG spokeswoman Mary Jane Michalak said a general rule of thumb is that someone's rebate will be between 5 percent and 10 percent more than the homestead credit amount already on a person's bill.
That means if someone got a homestead credit of $400, the rebate check would be between $420 and $440.
It likely will be weeks before homeowners start receiving rebate checks. That's because county officials must calculate the amount owed to each homeowner and then check to see which ones did not pay their bills on time. For those found to be delinquent, the rebate will first be applied against any unpaid taxes.
For counties that have a Nov. 10 bill due date, auditors will have until Dec. 20 to calculate each taxpayer's rebate. Counties with due dates after that will have 30 days after those dates to calculate individual rebate amounts.
Putnam County Auditor Stephanie Campbell was out of town at a conference and unavailable for comment.
Taxing District Refund Percentage
|Cloverdale Town (Cloverdale Twp)||8.3506|
|Cloverdale Town (Warren Twp)||9.1497|