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<00:00:02.571>marion <00:00:02.572>county <00:00:02.573>any <00:00:02.574>idea <00:00:02.575>how <00:00:02.576>many <00:00:02.577>people <00:00:02.578>are <00:00:02.579>homes <00:00:02.580>yeah <00:00:02.581>so <00:00:02.582>there <00:00:02.583>will <00:00:02.584>be <00:00:02.585>roughly <00:00:02.586>200 <00:00:02.587>000 <00:00:02.588>uh <00:00:02.589>homesteads <00:00:02.590>that <00:00:02.591>will <00:00:02.592>be <00:00:02.593>impacted <00:00:02.594>directly <00:00:02.595>by <00:00:02.596>this <00:00:02.597>yeah <00:00:02.598>it's <00:00:02.599>about <00:00:02.600>90 <00:00:02.601>of <00:00:02.602>homeowners <00:00:02.603>across <00:00:02.604>marion <00:00:02.605>[Music] <00:00:02.606>all <00:00:02.607>county 00:00:02.869 --> 00:00:04.390 align:start position:0% in all seriousness thank you all for being here this morning this is a very important announcement that we are making on behalf of the city of indianapolis the truth is that since the start of the pandemic demand for homes in central indiana and throughout indianapolis has exploded that demand has led to an exponential rise in the assessed value of many homes which obviously affects the amount homeowners pay in property taxes and that's the case here at tim and kathy's their riverside neighborhood home has experienced a 50 percent rise in estimated value just in the last two years increases like that are coming along at a very difficult time for the families here in our city home goods of every kind are still experiencing dramatic inflation now while the city can't control the price of consumer goods we can provide a little relief for residents at a time when they're hurting so this past monday the city county council approved my proposal for property tax relief for marion county homeowners thank you mr president thank you councillor brown and all of your colleagues it was a unanimous vote if i remember correctly this year when homeowners get their spring property tax bill a part of that bill will already be paid the amount depends on your home's assessed value for homes valued below 250 000 those homeowners will see a payment of a hundred and fifty dollars less in property tax for homes that are valued between two hundred and fifty thousand dollars and up to four hundred thousand dollars those homeowners will see a payment of 100 credit on their property taxes now we understand that these payments are not going to fix every budget on their own as a reminder flex pay options are available through the marion county treasurer's office there's also another important point i want to emphasize increases in value affect renters as much as they do homeowners that's why my budget proposal continued to fund our tenant legal assistance as well as offering critical rent relief through our indy rent program i strongly believe that all levels of government need to do all we can to help residents recover from the economic impact of the past two and a half years today the city of indianapolis offers a temporary but critical tool for that recovery so now i'm proud to hand it over to council president vaposley bob [Music] thank you very much mr mayor for your work one of the many challenges that marion county residents face today is the housing boom and the rise in assessed value my colleagues and i on the city county council recognize those challenges and are proud to stand here today alongside mayor hogsett my colleague counselor brown mrs allen derice mr rice to announce that a little relief is on the way proposal 310 which was unanimously passed at monday's council meeting provide credit to homeowners in marion county to address some of the burden of increase in property taxes this year and provide some relief for many families who are continuing to experience the hardships of the pandemic and inflation with providing some relief this proposal plays a small role in ensuring that families are not pushed out of their homes as fam as as property values increase the work certainly does not end here there continue to be significant racial disparities in homeownership especially with redlining and mortgage lenders according to savvy black borrowers are twice as likely as white borrowers to be denied alone even when their income and debt are the same this must change and we must continue to work together to address those disparities and ensure that indianapolis is a city where all residents can build on their generational i'd like to thank mayor hogsett for his efforts to provide financial relief to marion county homeowners my colleagues and i on the council will continue to work toward both fiscal and policy solutions to address gentrification housing stability and inflation and if i might i'd like to ask kathy kathy allende and tim rice to uh to come forward hello everyone yes uh we've been living in this neighborhood for quite a while now and uh the prices of living have gone up so much it's kind of difficult at times to be able to manage the way we managed several years ago by the increase of everything that we have so this would be a real good benefit to us to one less thing we'd have to worry about as far as taxes go so that would be a great relief to us and you know we enjoy this neighborhood i grew up in this neighborhood just down the street and i moved away and moved back when i bought the house so i'm back to my roots and now to see all the progress that's going on in the neighborhood is really you know really great and very significant for our children too to you know have a future in this neighborhood so we appreciate all that the councilman and mayor and those are working together to make it better for homeowners in the in the city so yeah we appreciate it yeah so we i definitely appreciate the tax relief and as was said you know the work is not done um so i would love for more work in the future to have maybe some consistent breaks or relief but yes being here married to my husband i've enjoyed the neighborhood the area and yeah definitely would love to stay and i will continue to help out any way i can get it again hey if you want to sign over now you're totally welcome darn it this is the 15th right yeah congratulations yeah it's prior so the assessed values overall growth for 2023 looks like about 18 and so after all of this is applied and the property taxes are fully completed with all the rates included and homestead homestead deductions and any other deductions are taken out off the total property tax bill then that will be what's taken off the 100 or 150 depending on the assessed value total gross assessed value at the top i know that some outlets have like sort of interpreted this to mean like fountain square or the neighborhoods that are considered like more trendy now but are there actually neighborhoods that are more affected by yeah i can talk a little bit about that so many years ago the state passed laws that actually moved us to trending the county assessor is actually independently elected and manages assist value so that's not the city itself it's the county assessor who does that but for my knowledge of that that is based on market and every everywhere is trended every few years so this will capture the trending that was done uh and completed in this year's uh process and then that that next year's assessed values that we're paying property tax on right so that will change and it depends on the area of the city how much assessed value growth they may see based on the market in each individual location throughout marion county any idea how many people are homes yeah so there will be roughly 200 000 uh homesteads that will be impacted directly by this yeah it's about 90 of homeowners across marion [Music] all county 00:00:04.390 --> 00:00:06.789 align:start position:0% 00:00:06.789 --> 00:00:08.629 align:start position:0% 00:00:08.629 --> 00:00:10.790 align:start position:0% 00:00:10.790 --> 00:00:12.310 align:start position:0% 00:00:12.310 --> 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